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Bitcoin falls another 8% as cryptocurrencies extend steep losses

4 monthes ago   |   By CNBC

Bitcoin was trading at around $35,000, about half of its value since hitting its November high.
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Bitcoin Has Lost Half Its Value Since Hitting Record High

4 monthes ago   |   By Time

Bitcoin extended its decline on Saturday, and has shed more than 50% from its record high in November while adding further momentum to the meltdown in cryptocurrencies.
“Margin positions being liquidated caused a wave of additional sell pressure, as assets that had been held as collateral were forcibly sold to pay for margin loans,” said Hayden Hughes, chief executive officer at Alpha Impact in Singapore.
Bitcoin's decline from its peak has wiped out more than $600 billion in market value, and over $1 trillion has been lost from the aggregate crypto market. While there have been much...
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