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Bitcoin plunges to below $40,000 for first time since August as cryptos track Wall Street's tech rout

Added 01-21-22 04:14:02am EST - “Ethereum slumped to below $3,000 as confidence evaporated from the cryptocurrency market Friday.” - Markets.businessinsider.com

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Posted By TheNewsCommenter: From Markets.businessinsider.com: “Bitcoin plunges to below $40,000 for first time since August as cryptos track Wall Street's tech rout”. Below is an excerpt from the article.

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Bitcoin slid below $40,000 and ethereum dropped to under $3,000 as a broad sell-off intensified Friday, with investors dumping cryptocurrencies along with tech stocks as they prepare for the Federal Reserve to hike interest rates.

Bitcoin was down 6.6% to $39,140.16 on the Coinbase exchange as of 3.45 a.m. ET. The biggest and oldest cryptocurrency has slumped nearly 20% over the last month to stand far below November's record high of close to $69,000.

Meanwhile, ethereum was down 7.8% to $2,894.41. It has fallen almost 30% over the last month, having hit a record high of close to $5,000 in November.

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