Bitcoin extends losses, down more than 20% to below $6,300

FILE PHOTO: Tokens of the virtual currency Bitcoin are seen placed on a monitor that displays binary digits in this illustration picture, December 8, 2017. Picture taken December 8. REUTERS/Dado Ruvic - Copyright Dado Ruvic(Reuters)

By Reuters

Published on 17/05/2019 - 06:34•Updated 19/04/2024 - 10:35

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TOKYO (Reuters) - The price of bitcoin sank almost 20% on Friday, an abrupt move after a strong recovery in the crypto-currency in recent weeks that took it to 10-month highs.

Bitcoin fell to as low as $6,178 (4,831 pounds) at Bitstamp exchange, down 21.6% from the previous close and last stood down 7.8% at $7,266.