As if Bitcoin hasn't had a tough time already, the currency dropped another 2% on Tuesday after JPMorgan (JPM) - Get Report CEO Jamie Dimon called the cryptocurrency "a fraud" and "worse than tulip bulbs" at the 7th Annual Delivering Alpha Conference.
Speaking at a conference organised by Barclays Dimon is reported to have said: "It's worse than tulip bulbs.
"It won't end well," Dimon added. "Someone is going to get killed...Currencies have legal support. It will blow up."
At the time of writing, Bitcoin was trading at $4,099, down from $4,368 earlier today.
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The cryptocurrency fell last week after Chinese regulators imposed a ban on individuals and businesses from raising funds through initial coin offerings (ICOs).
The virtual currency dropped to around $4,100 on the China ban. Earlier this month it reached a record high of $5,000.
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