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5/11/2018, 8:27 AM (Source: TeleTrader)
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Bitcoin trades in range as companies add blockchain

Bitcoin was marginally below the flat line on Friday, though the decline was on track for five out of last six days, after the most widely traded cryptocurrency came within a whisker from the $10,000 mark last week for the first time since March 8. Investors were cashing in after a surge last month, which coincided with a burst of volatility in stocks and debt securities.

A bullish signal came from Iran, where a parliamentary commission found $2.5 billion was recently taken out of the country via virtual currencies, against the backdrop of a sliding rial and the pullout of the United States from an international nuclear agreement. Furthermore, specialized media was filling the space with news about blockchain projects in the corporate sector: Hyperloop, BMW, Kodak, Oracle, Facebook... Of note, Cameron and Tyler Winklevoss have won a patent for settling exchange-traded products (ETPs) with cryptocurrencies.

The price slipped 0.44% at 8:25 am CET to $8,978.4 or 0.25% to €7,550. Futures expiring this month on CME weakened 1.7% to $8,990. Offshoot Bitcoin Cash rose 1.42% to $1,541.8.

Breaking the News / IT