Prison » Bitcoin plunges more than 11 percent as December rout continues to drag down cryptocurrencies

December 7, 2018

Bitcoin fell more than 11 percent against the U.S. dollar in 24 hours by Friday afternoon during Asian hours, marking fresh declines for the world’s largest cryptocurrency.

It’s been a rough December for the digital token: Its price dropped 8 percent on the first day of the month.

Bitcoin traded at $3,367.50 as of 2:30 p.m. HK/SIN (1:30 a.m. ET on Friday), falling 11.32 percent over the last 24 hours, according to data from industry site Coindesk.

Prices of XRP and Ether, the second and third largest cryptocurrencies by market value, plunged in the same 24 hour period. XRP fell 10.16 percent and Ether dropped 15.56 percent, according to Coindesk.

One analyst told CNBC via email that the cryptocurrency market “definitely seems to be suffering.”

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This article was posted: Friday, December 7, 2018 at 7:33 am

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