Profit

Bitcoin Drops By $1,000 In 48 Hours After Hitting All-Time High

Despite losing almost 7 percent this week, bitcoin is still up more than 600 percent so far this year.

 Share
EMAIL
PRINT
COMMENTS
Bitcoin Drops By $1,000 In 48 Hours After Hitting All-Time High
London: Bitcoin dropped below $7,000 on Friday to trade more than 5 percent down on the day, having fallen by well over $1,000 since hitting an all-time high on Wednesday.

Bitcoin dropped to $6,800 on the Luxembourg-based Bitstamp exchange by 1200 GMT, before recovering a little to $6,870 just over 20 minutes later.

On Wednesday around 1800 GMT, it had touched $7,888 after a software upgrade planned for next week that could have split the cryptocurrency in two was suspended.

As bitcoin fell, Bitcoin Cash - a clone of the original that was generated from another split on Aug.1 - surged, trading up as much as 35 percent on the day at around $850, according to industry website Coinmarketcap.

Despite losing almost 7 percent this week, bitcoin is still up more than 600 percent so far this year.

© Thomson Reuters 2017


(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)


Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on ndtv.com/elections. Like us on Facebook or follow us on Twitter and Instagram for updates from each of the 543 parliamentary seats for the 2019 Indian general elections. Election results will be out on May 23.

NDTV Beeps - your daily newsletter

................................ Advertisement ................................

................................ Advertisement ................................

................................ Advertisement ................................

Top