NEWS FEED
Zoom
11:17 23 February
11:15 23 February
10:15 23 February
TOP 5

Bitcoin slides by over $1,000 in less than 48 hours


Bitcoin dropped below $7,000 on Friday to trade more than $1,000 down from an all-time high hit on Wednesday, as some traders dumped it for a clone called Bitcoin Cash, sending its value up around a third.

 

Bitcoin has been on a tear in recent months, with a vertiginous sevenfold increase in value since the start of the year that has led to many warnings the bitcoin market - now worth well over $100 billion - has become a bubble that is about to burst, APA reports quoting Reuters.

 

It reached a record high of $7,888 around 1800 GMT on Wednesday after a software upgrade planned for next week that could have split the cryptocurrency in a so-called “fork” was suspended.

 

But it has quickly retreated from that peak, falling to as low as $6,718 around 1330 GMT on Friday. It later recovered a touch to trade around $6,880 by 1645 GMT, but that was still down almost 4 percent on the day.

Related news releases

VİDEO NEWS

PHOTO NEWS

  • AZN 160M allocated for improved technical support to agraria...
  • USD rate for February 26 announced
+2
EXCHANGE RATE
FOREX
/ 23 February, 2018

USD
1.7001
 
EUR
2.0914
 
RR
0.0301