SINGAPORE - Bitcoin slumped to a two-month low on Friday as speculation the next chair of the U.S. Federal ‍Reserve might tighten ‍up on cash in the financial system hit cryptocurrencies and lifted the ​dollar. Selling gathered pace on intensifying speculation that former Federal Reserve Governor Kevin Warsh was about to be anointed as Trump's pick to replace Fed Chair Jerome Powell. Warsh has called ⁠for regime change at the ​central bank and wants, among other things, a smaller Fed balance sheet. Bitcoin and other cryptocurrencies have been ‍regarded as beneficiaries of a large balance sheet, having tended to rally while the Fed greased money markets ​with liquidity - a support for speculative assets. Ether also skidded to a two-month low and traded 2.9% lower at $2,735.48.