Bitcoin Is Bitten by the Bear

Bitcoin prices entered into bear market territory Tuesday as an embarrassing legal case kicked off in Japan and experts continue to squabble over key changes to the cryptocurrency's infrastructure.

Bitcoins were quoted at $2,320 each on the London Bitsmap exchange during Tuesday trading, a 21.3% decline from the all-time high of $2,954 reached on June 11. Bear markets are typically defined as a fall of 20% or more from a recent peak price. Gold, in contrast, has fallen around 6.6% since reaching their 2017 peak of $1,296.17 on June 6.