Yahoo Finance Live's Julie Hyman and Brian Sozzi break down bitcoin's 20 percent price drop in the past month and what this holds for the future of cryptocurrencies. Read More...
Reuters
Bitcoin heads for worst week in months as Mt Gox payouts loom
Bitcoin fell to a one-month low on Friday and was headed for its worst week in six months as traders have booked profits from a long rally and been spooked by an expectation that creditors of collapsed crypto exchange Mt Gox might liquidate their payments. The largest cryptocurrency by market value, bitcoin was down 1.6% at $55,980 by mid-session in Asia, its lowest since mid-October and 20% below last week’s record high. “Selling pressure has been quite constant,” said Matthew Dibb, chief operating officer at Singapore-based crypto asset manager Stack Funds, who expects it could continue until the token finds support at around $53,000.
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