The price of Bitcoin dropped below the psychologically important $50,000 level on Friday, as worries over rising U.S. taxes filtered over to cryptocurrencies, adding to recent pressure already simmering on those alternative investments.
Bitcoin prices last changed hands at $47,659, a slide of 12% over 24 hours and a level not seen since early March, according to CoinDesk. Losses were spread across other cryptocurrencies, with ether, on the ethereum network, also dropping around 13% over the same period, trading at $2,120. XRP, which is pegged to Ripple, has lost 22% in 24 hours, last trading at $1.01.
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