If there were any lingering doubts about whether the Bitcoin bubble was over, those should be gone now. After falling below $9,000 last Thursday for the first time since November, Bitcoin has fallen south of $7,500 as of this writing. Bitcoin was trading at right around $8,250 at the start of Monday, so it’s down nearly 9 percent so far today.
Bitcoin had rallied a bit over the weekend, peaking at nearly $9,500 on Saturday, but Monday’s news that Lloyds Bank has prohibited its credit card customers from using their cards for cryptocurrency sent prices reeling.
“Across Lloyds Bank, Bank of Scotland, Halifax and MBNA, we do not accept credit card transactions involving the purchase of cryptocurrencies,” a Lloyds Banking Group spokesperson told MarketWatch. “It’s a case of protecting our credit card customers from the risks associated with the price volatility of cryptocurrencies.”