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Bitcoin edged lower on Friday and headed toward its worst week since March, as investors shrugged off a regulatory victory for virtual currencies and focused on a string of negative news, including cyber heists. 1 percent to ,518 as of 8:38 a. Prices of the highly volatile Bitcoin plummeted on Friday morning, dropping to . It has been a miserable week for the most popular cryptocurrency as it suffered its worst weekly performance since 2013. Bitcoin edged lower Friday and headed toward its worst week since March as investors shrugged off a regulatory victory for virtual currencies and focused on a string of negative news, including cyber heists.
Ether also slipped on Friday, giving back much of Thursday’s 10 percent jump following a statement by the top U. Even as the 10 largest, most liquid coins on Friday traded little changed, the group is still down 19 percent for the week, with the industry fighting the perception that long-time investors are taking advantage of days with positive news to sell peer-to-peer money. That said, it will be only talk and I sense we could have a bit of sell-the-rumour, buy-the-fact at the end of the week . This week has a few specific cryptocurrencies which can yield significant returns in the near future. 90 percent of Bitcoin Cash holdings are held as investments and never change hands, new research from Chainalysis revealed on June 8. Questions swirled this week about whether the world’s biggest cryptocurrency was manipulated during last year’s record price surge after a University of Texas professor published a study flagging suspicious activity.
And over the weekend, currency exchange Coinrail said in a statement that some of its digital currency appears to have been stolen by hackers, but it didn’t disclose how much, adding to a string of cyber heists. A Ripple executive pushed back against the Reserve Bank of India’s moves to restrict banks from dealing with digital coins, the Times of India reported. The company expects Basel norms and RBI’s own report on the industry to lead to the ban being rescinded, the newspaper reported. Time running out to find survivors of deadly Guatemala volcano . Search efforts continue in Guatemala after a volcanic eruption left at least 70 people dead and forced thousands from their homes. The threat of another eruption sent people racing to safety as toxic plumes of smoke rose high in the sky. It was yet another reminder that Volcan de Fuego is not done wielding its fiery wrath after Sunday’s violent eruption spread destruction around a 12-mile radius.