Bitcoin Set for Longest Weekly Losing Streak Since 2011: Chart

Bitcoin Set for Longest Weekly Losing Streak Since 2011: Chart

(Bloomberg) -- The original cryptocurrency looks set to drop a seventh week, its longest losing streak since 2011. After trading near $20,000 last December, Bitcoin has lost more than 80 percent of its value as speculators lost confidence and regulators increased scrutiny. Other cryptocurrencies have suffered too, with the Bloomberg Galaxy Crypto Index down 85 percent year-to-date.

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