Categories: Business & Economy

Bitcoin (BTC) struggles to find momentum after historic wipeout

After a week-long rout that wiped out hundreds of billions of digital asset value, Bitcoin has yet to live up to its reputation as a safe-haven asset.

Once intended as a hedge against market turmoil – a “digital gold” for the blockchain era – the original cryptocurrency stabilized Friday morning in Singapore after sliding alongside global stocks and credit to hover near $109,000, according to data compiled by Bloomberg.

Michael Johnson

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