Bitcoin Drops Even Lower, Worst Weekly Performance Since 2013 Expected

2 years ago admin Comments Off on Bitcoin Drops Even Lower, Worst Weekly Performance Since 2013 Expected
Bitcoin fell 9 percent on Friday, leaving the best-known cryptocurrency down more than 30 percent this week and headed for its worst weekly performance since April 2013.

The cryptocurrency dropped to as low as $8,155 at 0915 GMT on the Luxembourg-based bitstamp exchange amid a broader rout in the market. Other large cryptocurrencies have lost more than 20 percent of their value in the last 24 hours of trading, according to Coinmarketcap.com.

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A growing regulatory backlash against digital coins has sent investors scrambling to sell this week. Bitcoin is down more than half from a December peak of almost $20,000 after it notched up a more than 1,000 percent gain last year.

Just on Thursday, Bitcoin had suffered another drop in its value, as a Facebook ban on cryptocurrency adverts and a growing regulatory backlash against the nascent market frightened investors.

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