Bitcoin extends its slide, tumbling below $50,000

Bitcoin's price descended further on Tuesday after U.S. Treasury Secretary Janet Yellen issued a warning about the cryptocurrency.The world's most valuable digital coin plunged 15% in the last 24 hours, sinking below $50,000 to trade around $45,821 at 5:30 a.m. ET, according to data from Coin Metrics. It had earlier fallen as much as 16% to hit an intraday low of $45,041.Smaller digital tokens like ether and XRP also tumbled. Ether slipped 18% to a price of $1,447 while XRP sank 23% to trade around 43 cents.On Monday, Yellen called bitcoin an "extremely inefficient way of conducting transactions" and warned about its use in illicit activity. She also sounded the alarm about bitcoin's impact on the environment. The token's wild surge has reminded some critics of the sheer level of electricity required to produce new coins.Bitcoin isn't controlled by any central authority. So-called miners run high-power machines which compete to…

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