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Bitcoin Takes Another Lurch Lower After Breaking $4,000 Level

  • Biggest virtual token leads broad sell-off in digital assets
  • Volatility increases after relatively stable start to the year
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Cryptocurrencies are taking investors for a volatile ride again after a relatively tranquil start to the year, with Bitcoin leading prices lower in two swift plunges.

The largest digital currency slumped as much as 11 percent to $3,574, breaking through the $4,000 level that it’s maintained for most of the first full week of the new year. The Bloomberg Galaxy Crypto Index, a gauge of the largest cryptocurrencies, fell 13 percent as so-called alt coins, including Ether, Litecoin and XRP, also retreated.