Logo


Crypto losses near $700 billion in worst week since bubble burst

Bitcoin sank toward $4,000 and most of its peers tumbled on Friday, extending the Bloomberg Galaxy Crypto Index's decline since November 16 to 23 per cent

Representative Image
Representative Image

The great cryptocurrency crash of 2018 is heading for its worst week yet. Bitcoin sank toward $4,000 and most of its peers tumbled on Friday, extending the Bloomberg Galaxy Crypto Index’s decline since November 16 to 23 per cent. That’s the worst weekly slump since crypto-mania peaked in early January. After an epic rally last year that exceeded many of history’s most notorious bubbles, cryptocurrencies have become mired in a nearly $700 billion rout that shows few signs of abating. Many of the concerns that sparked the 2018 retreat -- including increased ...