Bitcoin tumbled as much as 18 per cent with risk aversion the dominant theme across asset classes amid the coronavirus outbreak.

The largest cryptocurrency was down 16 per cent to US$4,525 as of 7:08 a.m. in New York, after dropping as low as US$4,463. It has slumped about 57 per cent from the US$10,500 high for the year set Feb. 13. Other alt coins tumbled, with Ether down about 20 per cent and Litecoin off more than 17 per cent.

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