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Bitcoin extends slide, heads for worst week since March 2020

22 January 2021 08:35 (UTC +04:00)

Bitcoin fell heavily on Friday and was heading toward its sharpest weekly drop since last March, as worries over its technology and regulation extended a pullback from recent record highs, APA reports quoting Reuters.

The world’s most popular cryptocurrency fell more than 5% to an almost three-week low of $28,800 in the Asia session, before steadying around $30,000. It has lost 15% so far this week, the biggest drop since a 33% fall in March.

Traders said a report posted to Twitter by BitMEX Research, suggesting that part of a bitcoin may have been spent twice, had hurt confidence in the technology underlying the asset class and also that a pullback was overdue after a huge rally.