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Bitcoin had a horrible January

After a stellar 2017 in which the value of bitcoin increased 1,400%, the digital currency topped out at $20,000 per coin in December. However, in January bitcoin’s luck reversed as it closed the month below $10,000 per coin. While that’s still a great price if you got in on bitcoin years ago, it means investors … Continue reading “Bitcoin had a horrible January”

Bitcoin had a horrible January
[Photo: traviswolfe/iStock]
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After a stellar 2017 in which the value of bitcoin increased 1,400%, the digital currency topped out at $20,000 per coin in December. However, in January bitcoin’s luck reversed as it closed the month below $10,000 per coin. While that’s still a great price if you got in on bitcoin years ago, it means investors who got in at the December high saw half their investment vanish. In total, bitcoin’s market value fell $44.2 billion in January, reports Bloomberg, which notes that’s more than Ford’s entire market capitalization.

About the author

Michael Grothaus is a novelist, journalist, and former screenwriter. His debut novel EPIPHANY JONES is out now from Orenda Books. You can read more about him at MichaelGrothaus.com

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