Bitcoin slips on profit-taking but on track for biggest gain in eight months

Bitcoin, the world’s largest cryptocurrency, fell as much as 3.7 per cent to US$58,100 its lowest since October 15. — AFP pic
Bitcoin, the world’s largest cryptocurrency, fell as much as 3.7 per cent to US$58,100 its lowest since October 15. — AFP pic

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LONDON, Oct 27 — Bitcoin fell today to its lowest in a week and a half, taking losses since its all-time high to over 13 per cent — though the digital currency is still on track for its best month since February.

Bitcoin, the world’s largest cryptocurrency, fell as much as 3.7 per cent to US$58,100 (RM241,435) its lowest since October 15. It has lost 13 per cent since it hit an all-time high of US$67,016 yesterday.

Bitcoin’s losses were down to traders taking profit from its recent rally, said Tony Sycamore, analyst at Australian investment platform City Index. The digital currency has notched up gains of almost 35 per cent so far this month, which if maintained would be its best performance in eight months. — Reuters

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