The cryptocurrency dipped as much as 5.4 per cent to $7,753 during the morning session in Asia, its lowest since February 9 and down almost 25 per cent since the end of February, according to Reuters data tracking the Bitstamp trading venue.
Bitcoin has weathered a series of blows this month. The US Securities and Exchange Commission last week warned investors that cryptoccurrency exchanges were not regulated.
Google on Wednesday said it would ban advertisements for cryptocurrencies, initial coin offerings R11; a crowdfunding mechanism using digital currencies R11; as well as cryptocurrency exchanges, trading advice and wallets from June.
The move by the search company is part of a crackdown on risky unregulated financial products and follows Facebook’s decision in January to ban all advertisements for cryptocurrencies and ICOs.
Based Blockchain Network