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Bitcoin finds floor after worst selloff since 2015

On Saturday, bitcoin,the largest cryptocurrency by market value, rose 6.6% to $14,978 at 11:41 am London time, compared with 24 hours earlier, according to data on coinmarketcap.com

Todd White | Bloomberg 

Bitcoin clawed its way upward on Saturday along with most cryptocurrencies, halting a four-day tumble that drew worldwide attention to the unregulated $500 billion market that's frequently called a bubble. The recovery coincided with a pause in bearish news that had snowballed since Monday and shaved 24 per cent off bitcoin's value, its biggest four-day selloff since 2015. Comments by central bankers, a decision by Litecoin's founder to sell all his holding, and a wish to reduce stakes before the holiday season fueled the plunge, strategists said. “With ...

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First Published: Sat, December 23 2017. 23:04 IST
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