Digital currencies moved lower Tuesday, with some altcoins, smaller coins alternative to bitcoin, losing as much as 7%.
Bitcoin, the worlds largest digital currency, continues to struggle for gains above $8,500, as worries over increased regulation kept the No. 1 digital currency in check.
“The recent selloff has come from the news out of China that the ICO [initial coin offering] market is still very active and there are fears that China will further increase the strict regulation,” said Naeem Aslam, chief market analyst at Think Markets.
A single bitcoin BTCUSD, -2.50% last changed hands at $8,172.55, down 2.8%, since Monday’s levels at 5 p.m. Eastern Time on the Kraken exchange...