After ralying over 80% in the last month, Bitcoin prices are tumbling (down 25% from record highs to 2-week lows) as cryptocurrencies face uncertainty on three fronts.
As iBankCoin reports, investors are spooked over recent cyberattacks, uncertainty surrounding a Bitcoin platform upgrade, and proposed legislation which adds cryptocurencies a list of reportable assets under existing anti-money laundering laws.
As CNBC reports, major bitcoin exchanges were hit with multiple cyberattacks this week. Bitfinex, the largest U.S. dollar based bitcoin exchange, announced it was under 'distributed denial-of-service' attacks (DDOS) which slowed the service down. The attacks come at a time when consumer interest in bitcoins have also led to heavier than normal traffic on the exchanges, compounding the attacks.