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Bitcoin Approaches Month-end On Negative Note

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Bitcoin approaches the weekend and month-end with not as much enthusiasm as seen at the beginning of the month, when the price was surging close to $10000.

The most popular cryptocurrency is trading at $8,625 at the time of writing this, 7.5 percent down from the month's opening price.

This is the first time since 2014 that Bitcoin is failing to make gains in February.

The past week has been the most detrimental for Bitcoin this month. From $9700 last Friday, It lost its value by more than $1000, or 11 percent, within seven days.

It is to be noted that the equity markets across the world also crashed this week triggered by coronavirus concerns.

Ether also suffered substantial losses in the past seven days.

From $267 last Friday, the second most cryptocurrency fell to $217 Thursday, marking a nearly 20 percent decrease in its value.

As of this writing, Ether was trading at $223.

On Friday, Bitcoin has a market capitalization of $157.27 billion, and a 24-hour trade volume of $42 billion, according to CoinMarketCap.

Ether has a market of capitalization $24.50 billion, and a 24 hour trade volume of $22 billion.

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