$BTC Bitcoin Falls to Below $56,000. Why the Crypto Is Set to Tumble Further.
in price fell sharply to a four-month low on Friday, extending a recent price slump as defunct crypto exchange Mt Gox began making repayments to creditors.
Moreover, German police were seen moving about $75 million of crypto confiscated from a piracy website onto exchanges, potentially heralding a mass sale event as seen earlier this year and adding to the negative sentiment.
Bitcoin slid 4.9% in the past 24 hours to $54,931.7 - its weakest level since February. The token was also down almost 11% in the past seven days.
