Bitcoin pares losses after dipping below US$30,000

Business | 22 Jan 2021 9:36 pm

Bitcoin briefly tumbled below US$30,000 on Thursday, as the cryptocurrency continued a slide from record levels, CNBC reports.

The digital currency dropped by 7 percent to US$29,246.77, wiping out about US$100 billion from the market, according to data from CoinDesk. It’s since pared losses slightly Friday, climbing back above US$30,000 after trading beneath that level for over an hour.

Bitcoin was last trading down around 3 percent at a price of US$31,668. It’s fallen more than 12% so far this week, and is now down roughly 25 percent since peaking at US$41,940 earlier this month.

 

 



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