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11/7/2020, 11:24 PM (Source: TeleTrader)
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Bitcoin retreats below $15,000 as Biden wins election

Bitcoin dropped over 5% on Saturday, falling below $15,000 after Democratic nominee Joe Biden declared victory in the United States presidential election.

After several days of vote counting, major US networks projected Biden has secured enough electors to become the next president. Biden's policy on cryptocurrencies remains unclear as the president-elect didn't focus on the matter during his campaign.

Bitcoin slid 4.89% to sell for $14,769.08 at 5:19 pm ET. The world's most widespread cryptocurrency hit a 33-month high of $15,977.67 on Friday and is still over 100% up since the start of the year.

Breaking the News / NP