RATE Group | Bitcoin plummets under $6,000 to a low of the year after months of stability
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Bitcoin plummets under $6,000 to a low of the year after months of stability

14 Nov Bitcoin plummets under $6,000 to a low of the year after months of stability

Posted at 21:22h in Bitcoin News by

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Bitcoin’s moment of relative stability ended abruptly Wednesday.

The world’s largest cryptocurrency hit its lowest level of the year, falling as much as 9 percent to a low of $5,640.36, according to CoinDesk. Bitcoin had been trading comfortably around the $6,400 range for the majority of the fall, a stark contrast from its volatile trading year.

Other cryptocurrencies fared even worse on Wednesday. Ether fell as much as 13 percent while XRP, the third largest cryptocurrency by market capitalization, dropped 15 percent, according to CoinMarketCap.com.

The rout is likely being spurred by uncertainty around bitcoin cash, according to founder and CEO of BKCM, Brian Kelly.

That cryptocurrency was down 18 percent ahead of…

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