Bitcoin drops almost $1,000 in less than 24 hours, while its offshoot bitcoin cash also loses half its value after soaring to a record high.
This meant that Bitcoin dropped in price to 29 percent from a record high, on speculation some traders were buying its offshoot amid a struggle over the digital currency’s future.
Bitcoin also dropped to as low as $5,605 on Monday, from a record high $7,882 reached on Wednesday.
Bitcoin cash in its own case rose to $2,426 on Sunday, before plunging to $1,379 as of 9:32 a.m. in Hong Kong, according to Coinmarketcap.com.
At the time of publication, price recovery is already seen as bitcoin is presently above $6,000.
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