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Saturday, March 11, 2017

Bitcoin Prices Plunge After SEC Bitcoin ETF Decision

Bitcoin Prices Plunge After SEC Bitcoin ETF Decision

Bitcoin prices fell sharply after the US Securities and Exchange Commission shot down a bid to list a bitcoin exchange-traded fund (ETF).

The digital currency’s price fell to as little as $1,022.68 at 21:00 UTC, the lowest since roughly mid-February, according to the CoinDesk Bitcoin Price Index (BPI). This figure represents a nearly 30% decline from the all-time high of $1,325.81 that bitcoin prices reached earlier in the session.

At the time of report, bitcoin prices have recovered above the $1,100 line, hitting $1,109.06 at press time.

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