Many cryptocurrencies, including the largest of its kind, Bitcoin, have tumbled in price after a huge sell-off occurred over the course of the week. Bitcoin, in particular, has recently seen a huge rise in value, going from less than $6000 in November to nearly $20,000 last Sunday, however; this week’s cashout has caused the value of the cryptocurrency to drop off dramatically; Bitcoin is currently worth around $13,000 as of Friday.
Talks of a Bitcoin crash have been circulating for a while, even before the recent, and dramatic, boost in value. Today, critics may have been proved correct.
Bitcoin was not the only cryptocurrency to be affected this week, with Ethereum dropping by 20%, Litecoin down by 21%, and Ripple down by nearly 15%.
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