CoinDesk: Bitcoin drops 20% but wasn't week's big crypto price loser

21:45, 09 March 2018
Economy
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REUTERS

As of writing, the world's largest cryptocurrency by market capitalization is trading at $8,970, according to CoinDesk's Bitcoin Price Index (BPI).

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But the 28 percent drop from BTC's March 5 high of $11,660 had broader implications, pushing the market capitalization below $350 billion for the first time since Feb. 14.

The sell-off in BTC seems to have roiled broader markets, a trend evident by the fact the top 25 cryptos by total value are all reporting weekly losses.

As such, while bitcoin has depreciated by 20.98 percent week-on-week, it's notably not the top loser of the week, with TRON, ICON and IOTA ranking higher on bigger losses.

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