Bitcoin slides as investors cash in on gains

Bitcoin's post-US election rally fizzled out, falling short of much-anticipated $100,000 milestone

By Tuba Ongun

ANKARA (AA) – Bitcoin's post-US election rally hit a roadblock on Tuesday, slipping under pressure from a wave of profit-taking.

The world’s largest cryptocurrency dropped to $92,360 at 0830GMT before recovering above $93,000.

Market sentiment took a hit as President-elect Donald Trump reignited fears of a trade war, with fresh threats of additional tariffs on China and other countries.

Bitcoin has seen an impressive 40% surge since election day on Nov. 5 and hit a record-breaking $99,000 last week.

Ethereum, the world's largest altcoin by market capitalization, was trading at $3,367 for a daily decline of 3.6%.

The value of the cryptocurrency market was around $3.22 trillion, dipping 5% for the day, according to CoinMarketCap, a digital asset price-tracking website.

Kaynak:

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