RATE Group | Bitcoin slips below $8,000 as investors step away from risk
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Bitcoin slips below $8,000 as investors step away from risk

30 Jul Bitcoin slips below $8,000 as investors step away from risk

Posted at 22:46h in Bitcoin News by

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NEW YORK (Reuters) – Bitcoin briefly fell below $8,000 on Monday as investors scaled back their exposure to cryptocurrenices, after a sell-off in shares of technology and internet companies spilled over into other risky assets.

FILE PHOTO: A sign is seen outside a business where a Bitcoin ATM is located in Toronto, Ontario, Canada June 3, 2017. REUTERS/Chris Helgren/File Photo

The technology index .SPLRCT tumbled 1.79 percent as disappointing results last week from Facebook Inc (FB.O), Twitter Inc (TWTR.N) and Intel Corp (INTC.O) spurred worries about growth for a sector that has led the equity market to record highs.

“It looks like the entire market is in a risk-off mood today. It started with the (FAANG) stocks, but the mood seems to be dragging down crypto markets as well at the moment,” said Mati Greenspan, senior market analyst at eToro.

The so-called FAANG group includes Facebook, Netflix (NFLX.O) Inc, Amazon.com Inc (AMZN.O) and Google parent Alphabet Inc (GOOGL.O).

At…

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