Bitcoin skids amid broad cryptocurrency sell-off

Bitcoin skids amid broad cryptocurrency sell-offCryptocurrencies plunged on Friday, with bitcoin at one point sliding below $ 8,000 and headed for its biggest weekly loss since December 2013, amid worries about a regulatory clampdown globally. This week’s slump brought the total market value of cryptocurrencies down to around $ 400 billion, half the high it reached in January, according to industry tracker Coinmarketcap.com. The market value of cryptocurrencies is calculated by multiplying the number of digital coins in existence by their price, although many question whether that is the right way to value them.



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