Bitcoin's value has dipped below $8,000 for the first time in 11 weeks in the midst of a broader cryptocurrency sell-off.
The volatile digital asset fell as low as $7,923 on Friday according to Coinbase data. It dropped below the $8,000 level for the first time since November 24.
Multiple virtual currencies have dropped significantly as regulators voiced concerns about them and worries grew over suggestions that the price of bitcoin has been propped up by popular exchange Bitfinex.
On Wednesday, Indian Finance Minister Arun Jaitley warned against criminal activity associated with cryptocurrencies, and said that India would "eliminate" the use of cryptocurrencies in "illegitimate activities."
Source: Bloomberg Pro Terminal
Trader Bozhidar Arabadzhiev
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