Bitcoin Drops Below $8,000 as Cryptocurrency Pain Continues

Bitcoin fell below $8,000 as a miserable 2018 continued for cryptocurrencies, with investors confronting a mounting list of concerns about the future of the industry.

The largest digital currency dropped 12 percent to $7982 at 11:45 a.m. in London, the lowest since Nov. 24, according to consolidated Bloomberg pricing. Rival coins Ripple, Ether and Litecoin tumbled at least 18 percent as losses continued to spread across cryptocurrencies.