RATE Group | Bitcoin crashes through $4,000 – Business Insider
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Bitcoin crashes through $4,000 – Business Insider

25 Nov Bitcoin crashes through $4,000 – Business Insider

Posted at 01:38h in Cryptocurrency News by

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Bitcoin is getting beaten up again.

The benchmark digital cryptocurrency has crashed through $4,000 in a sudden move Saturday evening, dragging the market for digital coins with most seeing double-digit declines.

The fall was as steep as 14% at one point, with prices reaching $3,700 on some exchanges. A short time ago, Bitcoin was trading at $3,828, according to Markets Insider data.

Bitcoin is now at its lowest point in over a year and down around 80% from its highs.

It’s the second major fall in Bitcoin and other cryptocurrency prices this week. As is usually the case with moves in cryptocurrency markets, it is hard to pinpoint a catalyst for the move, although it does follow a “fork” a week ago in Bitcoin Cash, an offshoot of the Bitcoin core currency.

Business Insider reported earlier this week that two different groups of developers associated with Bitcoin Cash have been fighting for supremacy, setting up competing products in Bitcoin ABC (Bitcoin Cash with new…

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