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Bitcoin pauses below record peak; gained whopping 55% in November

One wealth manager said technical chart analysis was predicting deeper falls

Reuters  |  Sydney 

Bitcoin hovered around $9,600 in volatile trade on Friday, after tumbling about 15 percent from an all-time high hit this week as some investors warned ominously of a bubble and further falls in the stratospheric cryptocurrency. Bitcoin was down 2.8 percent at $9,612 in early Asian trading on the Luxembourg-based Bitstamp exchange, from a record peak of $11,395 set on Wednesday. On Thursday, it went as low as $9,000. The latest slide has tempered an astronomical rise in recent months: Bitcoin was up almost 1,100 percent year-to-date on Wednesday. As of 0200 GMT, it was still up ...

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First Published: Fri, December 01 2017. 10:47 IST
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