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Cryptocurrency selling intensifies: Bitcoin heads for worst week since 2013

Slump in prices this week means market value of cryptocurrencies down to $385 bn, less than half the high it reached in Jan

Reuters  |  London 

Cryptocurrencies plunged on Friday, with several of the largest falling by more than 20 per cent and bitcoin sliding below $8,000 and headed for its worst week since 2013, as worries about a regulatory clampdown globally sent investors scrambling to sell. The slump in prices this week means the total market value of cryptocurrencies is down to $385 billion, less than half the high it reached in January, according to industry tracker Coinmarketcap.com. The market value of cryptocurrencies is calculated by multiplying the number of digital coins in existence by their price, ...

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First Published: Fri, February 02 2018. 18:40 IST
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