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Bitcoin slides by over $1,000 in less than 48 hours

Reuters  |  LONDON 

By Jemima KellyLONDON (Reuters) - Bitcoin dropped below $7,000 on Friday to trade more than $1,000 down from an all-time high hit on Wednesday, as some traders dumped it for a clone called Bitcoin Cash, sending its value up around a third. Bitcoin has been on a tear in recent months, with a vertiginous sevenfold increase in value since the start of the year that has led to many warnings the bitcoin market - now worth well over $100 billion - has become a bubble that is about to burst. It reached a record high of $7,888 around 1800 GMT on Wednesday after a software upgrade planned for next ...

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First Published: Fri, November 10 2017. 22:56 IST