Wednesday 23 October 2019 3:06 pm

Bitcoin falls to lowest level since June amid Libra concerns

Bitcoin has tumbled eight per cent as concerns mount over cryptocurrencies ahead of Facebook boss Mark Zuckerberg’s appearance before Congress this afternoon. 

Zuckerberg is set to be questioned on Libra, Facebook’s proposed digital currency, from 3pm UK time. 

Bitcoin’s price tumbled this afternoon. Image: Bitstamp

Regulators and lawmakers from around the world have raised concerns about the possibility of Libra being used for money laundering, and have warned the stablecoin could undermine financial systems. 

Bitcoin came under pressure ahead of the hearing, falling around eight per cent to $7,462 (£5,790), its lowest level since June.