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Bitcoin drops over increased scrutiny of exchanges, now down 16% from high this week

March 8, 2018


Bitcoin fell again Thursday, bringing its losses from a high reached earlier in the week to greater than 15 percent, after news of increased regulatory scrutiny on cryptocurrency exchanges.

The cryptocurrency fell about 7 percent to $9,825 over the last 24 hours on Coinbase. It reached a high for the week of $11,624 on Monday.

Bitcoin dropped below $10,000 Wednesday following news of compromised accounts on a major Hong Kong-based exchange and a statement from the U.S. Securities and Exchange Commission that expanded its scrutiny to cryptocurrency exchanges. News overnight from Japan added to those concerns.

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