Bitcoin is heading for the worst weekly loss in a month

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Currency

Reuters

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The “Bitcoin” currency fluctuated on Friday, heading towards its worst weekly decline since September 2020, as concerns about regulation and its excessive rise led to a retreat from recent record highs.

The most popular cryptocurrency (bitcoin) in the world fell by more than five percent to almost its lowest level in three weeks at 28,800 dollars in early trade in Asia, before settling near 32 thousand. The currency has lost 11 percent since the start of the week, the biggest drop since September 2020.

Bitcoin is trading at a level of more than 20 percent below its record high of $ 42,000, which it reached two weeks ago, to incur losses in light of growing fears that it is one of a number of price bubbles, and at a time when currencies are taking in. Encoded attention of regulators.

Source: Reuters





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