Bitcoin Tumbles as Crypto Bubble Shows Signs of Bursting

• Biggest digital token takes losses since peak to about 60%
• Rival coins including Ripple, Ether and Litecoin tumble

Japanese authorities raided Coincheck’s offices Friday morning, a week after the robbery, hauling out documents and computers as evidence. The inspection was conducted to ensure security for users, Finance Minister Taro Aso said.

“Bitcoin is in trouble,” Lukman Otunuga, a research analyst at foreign exchange broker Forextime Ltd, wrote in a note Friday. “Price action suggests that bears are clearly in control, with further losses on the cards as jitters over regulation erode investor appetite further.”