Business

Bitcoin leads cryptocurrency selloff, down 9.7per cent on day at US$16.922

Bitcoin led a broad cryptocurrency selloff on Thursday, dropping 9.7per cent to US$16,933 after having hit its highest level in nearly two years earlier this week.

A representation of virtual currency Bitcoin is seen in front of a stock graph
FILE PHOTO: A representation of virtual currency Bitcoin is seen in front of a stock graph in this illustration taken November 19, 2020. REUTERS/Dado Ruvic/Illustration/File photo

Bookmark

LONDON: Bitcoin led a broad cryptocurrency selloff on Thursday, dropping 9.7per cent to US$16,933 after having hit its highest level in nearly two years earlier this week.

Other cryptocurrency also fell, with Ripple's XRP dropping 20.26per cent to US$0.51 and Ethereum falling 13.16per cent to US$500.8. Both currencies also hit highs earlier this week.

(Reporting by Abhinav Ramnarayan, editing by Sinead Cruise)

Source: Reuters