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Bitcoin plunges below $13,000, heads for worst week since 2013

Bitcoin loses a third of value in just five days as bitcoin moves known to be big and volatile

Reuters  |  London/Tokyo 

Bitcoin plunged below $13,000 on Friday after losing around a third of its value in just five days, with the digital currency on track for its worst week since 2013 after a blistering ascent to a peak close to $20,000 on Sunday. The biggest and best-known cryptocurrency had seen a staggering twentyfold increase since the start of the year, climbing from less than $1,000 to as high as $19,666 on the Luxembourg-based Bitstamp exchange on Sunday and to over $20,000 on other exchanges. But bitcoin has fallen each day since then, with losses accelerating on Friday. It fell to as low ...

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First Published: Fri, December 22 2017. 16:16 IST