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JP Morgan CEO’s Bitcoin rant causes hiccup in cryptocurrency value

The Next Web Wednesday, 13 September 2017
JP Morgan CEO’s Bitcoin rant causes hiccup in cryptocurrency valueJP Morgan CEO Jamie Dimon set off a market slide when he called Bitcoin a “fraud” that would “blow up” earlier this week at a conference. The price of Bitcoin – already slumped over 10 percent off word China may ban cryptocurrency – further dropped to $3,772, the lowest it’s been in a month, after Dimon’s remarks. If he’s to be believed, the end of Bitcoin is nigh. Then again, reports of Bitcoin’s demise may have been exaggerated. Bitcoin sits at $3,894 as of Wednesday afternoon and its all-time high is less than $5,000. For perspective, six months ago Bitcoin…

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News video: Bitcoin Slide Contines

▶ Bitcoin Slide Contines 00:48

Digital currency Bitcoin continues to fall against the dollar on Friday, following a 16% collapse in its value on Thursday. Bitcoin began sliding on Thursday after Chinese media reported that the country's regulators were moving closer to shutting down exchanges. Business Insider first reported that...

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