Bitcoin Set to Close Week Near $3,000
NEW YORK (Bloomberg) - Bitcoin headed for its seventh weekly slump on Friday, holding above $3,000 -- a level it hasn’t broken below since September last year.
The largest digital currency was almost flat at $3,270 at 7:55 a.m. in New York, after slipping 5.4 percent Thursday, according to consolidated pricing compiled by Bloomberg. Bitcoin is down about 3.5 percent from the previous Friday. The wider Bloomberg Galaxy Crypto Index is on a five-week losing streak.
Cryptocurrencies have wiped out about $730 billion in market value from a January peak this year, according to data compiled by CoinMarketCap.com. Widespread mainstream institutional adoption failed to materialize amid ongoing security concerns and regulatory roadblocks.
The largest digital currency was almost flat at $3,270 at 7:55 a.m. in New York, after slipping 5.4 percent Thursday, according to consolidated pricing compiled by Bloomberg. Bitcoin is down about 3.5 percent from the previous Friday. The wider Bloomberg Galaxy Crypto Index is on a five-week losing streak.
Cryptocurrencies have wiped out about $730 billion in market value from a January peak this year, according to data compiled by CoinMarketCap.com. Widespread mainstream institutional adoption failed to materialize amid ongoing security concerns and regulatory roadblocks.