RATE Group | Bitcoin sinks sharply amid concerns about slow take-up of cryptocurrencies
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Bitcoin sinks sharply amid concerns about slow take-up of cryptocurrencies

06 Sep Bitcoin sinks sharply amid concerns about slow take-up of cryptocurrencies

Posted at 16:05h in Bitcoin News by

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Bitcoin and an array of other cryptocurrencies dropped sharply for the second time in less than 24 hours, sinking toward a nine-month low amid concern that broader adoption of digital assets will take longer than some anticipated.

Bitcoin, the largest cryptocurrency, tumbled as much as 9.8 per cent and was trading at $6,422 as of 1:25 p.m. in Hong Kong, according to Bloomberg composite pricing. The Bloomberg Galaxy Crypto Index, a gauge of the largest digital assets, traded near its lowest level since November 2017 as rival coins Ripple, Ether and Litecoin also fell.

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