RATE Group | Bitcoin price drops $150 in one hour, down 2% today
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Bitcoin price drops $150 in one hour, down 2% today

16 Nov Bitcoin price drops $150 in one hour, down 2% today

Posted at 01:32h in Cryptocurrency News by

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The price of bitcoin (BTC) has fallen by $150 in one hour, reaching a low of $8,511. It has since slightly rebounded to its current price of $8,526. This is the latest fall in price in a bad week for bitcoin.

In the last seven days, bitcoin has slid by more than 2% as the market turned sour following a significant rally in late October. Now, bitcoin currently sits at its lowest value in almost three weeks.

Despite the falling prices, bitcoin’s dominance has remained relatively stable at around 66% for the last week, but has fallen from over 70% since early September. On the other hand, bitcoin’s overall 24-hour volume has increased from $18.4 billion to $20.1 billion in the last seven days. Nonetheless, bitcoin’s daily trade volume has seen a significant slump since late October—falling from around $48 billion on October 26.

Bitcoin’s price was initially sent soaring earlier this year after Facebook announced it would launch its own cryptocurrency known as Libra. However, in…

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