Bitcoin Sinks Below Key Indicator as Sell-Off Intensifies: Chart
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A tough week for Bitcoin just got worse. After bouncing off its 200-day moving average for much of the week, the digital currency closed below the key technical level on Thursday for the first time since early April, according to Bitstamp pricing. Bitcoin has erased some 20% of its value this week, on track for its worst performance since November. Industry analysts are blaming the sell-off on an underwhelming debut of one-day Bitcoin deliverable futures from Intercontinental Exchange Inc., and wider market gyrations.