Cryptocurrency Market Sees Bloodbath as Mt. Gox Bitcoin (BTC) Exchange Date Approaches

The world’s largest cryptocurrency has been under pressure recently due to news of the collapse of Bitcoin exchange Mt. Gox, which is preparing to distribute $9 billion worth of coins to users.

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Cryptocurrency prices fell on Friday as investors focused on cashing out nearly $9 billion to users of collapsed bitcoin exchange Mt. Gox.

By 10:50 a.m. London time, Bitcoin had fallen about 6% in 24 hours to $54,500.53, the first time it has traded below $55,000 since Feb. 27, according to data from CoinGecko.

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