Bitcoin and rival cryptocurrencies all lose value after Google bans advertising

The price of bitcoin and its competitors has fallen dramatically over the last three days, with all but two of the top 50 cryptocurrencies further tumbling in value this morning. Bitcoin, ethereum, ripple and bitcoin cash have all dropped in value by at least 7 per cent in the last 24 hours, according to CoinMarketCap, having slid steadily since Monday. One bitcoin is worth $8,118 (£5,826) at the time of writing, down 7.15 per cent compared to Wednesday morning, 13.48 per cent on this time last week and 4.41 per cent on mid-February, going by Coinbase data. Of CoinMarketCap's top 50, only tether and digixDAO - two comparatively obscure coins - saw any growth at all. The biggest slumps were suffered by nem and steem, which lost 25.06 per cent and 17.93 per cent of their values respectively in 24 hours.