Financial Insights

Bitcoin heads for the worst week in months as Mt Gox payouts loom

The largest cryptocurrency as per market value, bitcoin was down 1.6 % at $55,980 by mid-session in Asia, its lowest since mid-October and 20 % below last week’s record high.

Bitcoin fell to a 30 days low on Friday and headed towards its worst week in six months as traders have booked profits from a long rally and been spooked by an expectation that creditors of collapsed crypto exchange Mt Gox might liquidate their payments.

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