Bitcoin’s fizzling 2021 returns start to lag mainstream assets

Bitcoin's value continues to tumble, analyst speculating this is due to the US being able trace the typically "untraceable" currency used as payment in a cyber ransom. — REUTERS

The returns from Bitcoin this year are sliding below traditional assets as cryptocurrencies struggle to claw back ground lost in a rout in May.

The largest token tumbled almost 6% at one point in Asian trading Tuesday and was at a two-week low of about US$33,000 (RM135,980) as of 1:07pm in Hong Kong. The wider Bloomberg Galaxy Crypto Index fell as much as 10%.