Bitcoin drops 5 percent to one-week low, briefly below $7,700

NEW YORK (Reuters) – Bitcoin fell 5 percent on Tuesday, briefly going to a one-week low below $7,700 as investors further scaled back their holdings of digital currencies.

Jewelry with the Bitcoin logo is seen on display at the Consensus 2018 blockchain technology conference in New York City, New York, U.S., May 16, 2018. REUTERS/Mike Segar

At 10:19 a.m. (1419 GMT), the world’s biggest and best-known virtual currency BTC=BTSP was down 5 percent at $7,755.84 on the Luxembourg-based Bitstamp exchange.

Reporting by Richard Leong; Editing by David Gregorio

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