RATE Group | Bitcoin hits a 6-month low after extending its fall for an 8th straight day | Currency N…
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Bitcoin hits a 6-month low after extending its fall for an 8th straight day | Currency N…

25 Nov Bitcoin hits a 6-month low after extending its fall for an 8th straight day | Currency N…

Posted at 12:01h in Bitcoin News by

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BitcoinMarkets Insider

  • Bitcoin on Monday sank to its lowest level since May, dropping below a key $7,000 threshold.
  • It fell to $6,575 at around 1 a.m. in New York (2 p.m. Hong Kong) as the world’s largest cryptocurrency extended its losing run for an eighth straight day. 
  • Reasons for the drift are unclear, but one analyst pinned the drop on China pessimism. 
  • On Friday, the People’s Bank of China told businesses that are involved with crypto to correct any “improper actions,” according to Bloomberg.
  • View Business Insider’s homepage for more stories. 

Bitcoin on Monday sank to its lowest level since May, falling below the key $7,000 threshold as the world’s largest cryptocurrency extended its losing run for an eighth straight day. 

According to Markets Insider data, bitcoin fell to $6,575 at around 1 a.m. in New York (2 p.m. Hong Kong), before rising to $6,767 at 4 a.m.

Bloomberg, which used data from Bitstamp, reported that the eight-day losing streak tied a for the currency’s…

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