Bitcoin, Other Crypto-Currencies Abrupt Crash Friday

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After peaking around $18,000 just a few weeks ago, the digital crypto-currency popular among online gamblers, Bitcoin, has dropped below $12,000 Friday morning before rebounding slightly.  Other crypto-currencies have seen drops in their trading price as well.

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The drop — which wiped more than $4,000 from the value of Bitcoin at one point — was the highest percentage loss of value that bitcoin has seen this year. The cryptocurrency was valued at just $998 on January 1 2017 and it soared to a record high of nearly $20,000 on some exchanges earlier this week.

Other Friday free falls in the crypto-currency market included Ethereum (down 20 percent), Bitcoin Cash (down 30 percent), Litecoin (down 21 percent).

- Aaron Goldstein,

Business/Financial News

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