FILE PHOTO: A collection of Bitcoin (virtual currency) tokens are displayed in this picture illustration taken December 8, 2017. REUTERS/Benoit Tessier/File Photo/File Photo
LONDON (Reuters) – Bitcoin extended losses on Thursday after suffering its worst day for a month on Wednesday, with traders citing factors ranging from technical trading to jitters in traditional markets washing into cryptocurrency trading.
The biggest cryptocurrency fell 5.5% in early trade BTC=BTSP after slumping 7.7% a day earlier, when it dropped under $10,000 for the first time since Aug. 1 and posted its biggest fall since July 16.
It was last down 1.7% at $9,859.
Traders said it was difficult to pinpoint the catalyst that triggered the losses.
Some cited selling caused by technical trading as bitcoin approached the widely-watched $10,000 mark. Others said nerves from the recent fall in global equity markets on fears of a recession had infected cryptocurrencies, though exactly how digital coin and equity markets are linked is up for debate. …