2/6/2018, 9:09 AM (Source: TeleTrader)
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Bitcoin dips to $6K first time since November 13

Cryptocurrencies continued with the downward spiral across the board on Tuesday and Bitcoin declined sharply, going for as low as $6,000. The level was last seen on November 13.

The most widely tracked coin was 9.31% in the red at 9:06 am CET, selling for $6,300. Compared to the euro, it lost 10.68% to 4,950. February futures at CME Globex were down 12.22% at $6,250. Spinoff virtual currency Bitcoin Cash lost 10.67% and traded at $779.41. The session low of $750 was last seen on November 10.

After crackdowns and regulatory hurdles around the globe and limitations imposed by banks, China Daily today wrote authorities intend to curb foreign exchange outflows related to initial coin offerings, or ICOs. Earlier, South Korea's security services informed the parliament about indications North Korea may have orchestrated last month's breach into Coincheck, when cryptocurrencies worth $520 million were stolen.

Bitcoin has lately increased its inverted correlation with volatility measures such as VIX and followed the stock crash which started last week.

Breaking the News / IT