Bitcoin has slumped to its low for the year after seeing more than $US44 billion ($55 billion) in market value lost during January amid mounting concerns of increased regulation and the viability of the cryptocurrency.
After reaching a record high of $US19,511 on December 18, Bitcoin has lost more half its value as the digital token has been weighed down by expectations of more government oversight globally, fears of price manipulation, the susceptibility of exchanges to hacking and lingering concern that it's all just an asset bubble.
