At 11.06am, it was down 6.4% to $8,007.Bitcoin touched a year-to-date high of almost $9,100 on May 30, the data show. Industry watchers pointed to renewed institutional interest this year withthe likes of Facebook Inc. and JPMorgan Chase & Co. developing coins of their own. "It just got a little bit extended, this is a healthy retracement,” said Timothy Tam, co-founder and chief executive at CoinFi, a cryptocurrency research firm in Hong Kong. "There’s quite a lot of volume going through, this is normal Bitcoin volatility. - Bloomberg

Source: The Star June 04, 2019 03:11 UTC