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Bitcoin tumbles on the first trading day of 2018

2nd Jan 18 10:28 am

Valuation was flat at $13,496

On the first trading day of 2018, cryptocurrency Bitcoin tumbled to $13,496 today from a valuation of $14,156 on Sunday. The digital currency had reached a record high value of $19,511 in December last year.

The virtual coin traded at $13,440 as of 3:55pm in New York, down 6.1 per cent from Friday, according to Bloomberg. Bitcoin futures also fell 9.2 per cent early today morning, while Cboe Global Markets ( CBOE ) Bitcoin futures lost 8.6 per cent to $13,300.

Fuelled by the global frenzy for crypto currencies, Bitcoin had started 2017 by rising 3.6 per cent on the first day of 2017 to $998, data from coinmarketcap.com show, and had ended the year up more than 1,300 per cent.

Meanwhile, the euro climbed to a four-month high against a broadly weaker dollar today. The euro started the year by climbing 0.3 per cent to $1.2046.

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