Cryptocurrencies Are Getting Crushed
- Bitcoin, ethereum, ripple down more than 20% from record highs
- Mt. Gox hearings, programmer split weigh on investor optimism
Bitcoin Civil War Could Split the Currency
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The cryptocurrency Cassandras are starting to look right.
The sector has lost about a third of its market value since peaking in early June, pushing it into what traditional equity market analysts label as a bear market. Bitcoin, the largest of the digital currencies, is down about 20 percent from its peak of $3,000, reached June 12. Smaller rivals such as ethereum and ripple are getting hit even harder.