The bitcoin train is off the rails – below 9000 mark now

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The cryptocurrency plunged 13% on Thursday and fell below $9,000. It’s lost more than half its value since mid-December.

Price swings aren’t unusual for bitcoin. This one came after the Indian finance minister, Arun Jaitley, reiterated the government’s position that cryptocurrencies aren’t legal tender.
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India will “take all measures to eliminate the use of crypto assets in financing illegitimate activities,” Jaitley said. He didn’t say what those measures might be.

Once the price dropped below $10,000, the bitcoin bears came out in force, said Garrick Hileman, a cryptocurrency researcher at the University of Cambridge.

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