29 days ago
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Bitcoin dropped as much as 15% late Saturday, its biggest intraday drop since February, just days after hitting record highs.It's unclear what caused the sell-off.
Separately, a blackout in China’s Xinjiang region, which reportedly powers a lot of Bitcoin mining, was blamed for the sell-off, Reuters reported, citing data website CoinMarketCap.
The price of a bitcoin hit a low of $52,810.06 late Saturday after it tumbled more than $7,000 in a single hour, before the losses eased. Bitcoin is down 15% from its high of $64,895.22 on Wednesday.
Despite the declines, bitcoin is valued at more than $1 trillion following a nearly 700% surge in the past 12 months.
What do you think, will bitcoin make another record high?