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Bitcoin slumps 10% in biggest drop since before futures

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Lost in the hubbub over the feeding frenzy in cryptocurrencies and related stocks is the original digital coin itself.

[NEW YORK] Lost in the hubbub over the feeding frenzy in cryptocurrencies and related stocks is the original digital coin itself.

Bitcoin fell as much as 10 per cent to less than US$17,000 on Tuesday, the steepest decline since before futures were first introduced on Dec 10.

Investors have shown more interest in smaller digital coins such as ether and ripple, where gains have lagged bitcoin's 17-fold rally this year, and as others speculate there is more room to gain because of their smaller market capitalisations.

BLOOMBERG

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