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Bitcoin slides 11% as Facebook ad ban, India clampdown unnerve investors

Other cryptocurrencies, including Ripple, the third-largest by market value, and Bitcoin Cash, have also racked up double-digit declines in the last 24 hours

Reuters  |  London 

Bitcoin, the world's largest cryptocurrency, skidded 11 percent on Thursday to its lowest since November, as a Facebook ban on cryptocurrency adverts and a growing regulatory backlash against the nascent market frightened investors. Thursday's drop to as low as $9,022 on the Luxembourg-based Bitstamp exchange left bitcoin trading at less than half the peak price of almost $20,000 it reached in December. It slid more than 26 percent last month, in its worst monthly performance since January 2015. Other cryptocurrencies, including Ripple, the third-largest by market value, ...

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First Published: Fri, February 02 2018. 08:03 IST
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