The value of cryptocurrency Bitcoin plunged again on Tuesday, following below $6,000 for the first time in 3 months.
The virtual currency fell to $5,992 for the first time since mid-November, according to Bloomberg News.
Barely six weeks ago, Bitcoin hit an all time high of $19,511.
Since those heady days the cryptomarket — which includes dozens of other units — has been pounded by news of crackdowns by governments including in China, Russia and South Korea, one of the biggest markets for the sector.
On Thursday, India said it would “take all measures to eliminate” cryptocurrencies’ use as part of a payment system and in funding illegitimate activities, while Japanese authorities raided a virtual currency exchange after it lost $530 million to hackers.
Britain’s biggest lender, Lloyds Banking Group Plc, also disclosed that it would ban its credit card customers from buying crypto currencies.
It follows the lead of U.S. banking giants JP Morgan Chase & Co (JPM.N) and Citigroup (C.N), is aimed at protecting customers from running up huge debts from buying virtual currencies on credit.
Last week, the Nigerian Senate warned Nigerians against investing in bitcoin and urged the Central Bank of Nigeria, Nigerian Stock Exchange and the Nigerian Deposit Insurance Corporation to launch awareness campaigns on the business.
The Senate also resolved to urge the CBN, NDIC and the NSE “to make an unequivocal statement across all the news platforms in all dialects on the dangers of bitcoins as a store of value in Nigeria.”
It also called on the National Orientation Agency to “spread the news against all forms of wonder banks and ponzi schemes operating in Nigeria.”