Bitcoin bites: Cryptocurrency closes at three-week low | Coronavirus pandemic News

Bitcoin tumbles as much as 11.3 percent on Thursday, sliding below $31,000.

Bitcoin closed in on the lowest in three weeks as the cryptocurrency’s sizzling rally gives way to pessimism that prices are too high.

Bitcoin tumbled as much as 11.3% Thursday, sliding below $31,000. The largest digital asset has trended lower ever since breaking through $40,000, and losses have accelerated in the past two days.

While soaring crypto prices fueled a speculative mania among the Robinhood crowd,…


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