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Bitcoin recovers above $4,000 after dropping to over one-year low

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Bitcoin recovers above $4,000 after dropping to over one-year low

Postby bmh67wa » Sun Nov 25, 2018 6:04 pm

Story :

What a difference a year can make. Last year at this time, bitcoin was in the middle of a 217-percent rally that saw its value peak in December near $20,000.

Now the largest cryptocurrency is struggling to stay above $4,000 – losing almost 28 percent in value this week and briefly hitting its lowest level since September 2007 at $3,477.58 in early Sunday trading, according to data from CoinDesk.

It bounced back to $4,029.42 in evening trading, up 5.4 percent from its 24-hour open. Other cryptocurrencies finally entered positive territory in late trading as well. Ethereum was up 3.7 percent from its 24-hour open, while Litecoin gained 7.9 percent. XRP edged up just under 1 percent, according to CoinDesk.

This week’s sell-off marked the largest one-week decline since April 2013 when bitcoin lost over 44 percent of its value, according to CoinDesk.

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