8,000 US and headed for its biggest weekly loss since December 2013, as worries about a regulatory clampdown globally sent investors scrambling to sell. Crytocurrencies such as bitcoin came under selling pressure on Friday bitcoin news november 2015 renewed regulatory pressure. A day earlier, India vowed to eradicate the use of crypto-assets.
The currencies have come off their lows but analysts said the sell-off was probably not over. 400 billion US, half the high it reached in January, according to industry tracker Coinmarketcap. 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. 7,625 US on the Luxembourg-based Bitstamp exchange. 8,501 US in afternoon New York trading. The virtual currency is down by close to 25 per cent this week and almost 40 per cent in 2018. The second and third largest virtual currencies, Ethereum and Ripple, also plunged, Coinmarketcap.