Crypto: Bitcoin drops below $40,000 amid crypto slide after Russia proposes ban

This post was originally published on this site

Cryptocurrency prices tumbled overnight, with bitcoin hitting its lowest price since last August.

Bitcoin
BTCUSD,
-6.12%,
the world largest crypto by market cap, slid more than 6% and dropped below the $40,000 level, last trading at about $38,800 as of midnight Friday. Ether
ETHUSD,
-7.33%,
which runs on the ethereum blockchain, fell 7% to about $2,868, and XRP
XRPUSD,
-5.78%,
Bitcoin Cash
BCHUSD,
-6.58%,
Litecoin
LTCUSD,
-7.06%
and Monero
XMRUSD,
-4.76%
all posted sharp losses, according to Kraken data.