The prospect of increased regulation, the $500 million hack of a Japanese exchange and a move by Facebook to ban cryptocurrencies advertisements, have heightened negative sentiments about bitcoin, which fortune went from bad to worse Friday.

The digital currency dropped below $8,000 on Friday for the first time since November 2017, down over 40% so far this year

Bitcoin has come under intense pressure this year, crashing 60 per cent from the high it struck in mid-December, according to Reuters data tracking the Bitstamp trading venue.