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Bitcoin drops below $9,000 on (potentially) bad news from India

After several short-lived drops under $10,000, it looks like the price of Bitcoin finally yielded under pressure. The largest cryptocurrency by market cap is currently trading at $8,947, down 11 percent in the last 24 hours according to CoinMarketCap.  The trigger for the price drop is likely the news from India, where finance minister Arun Jaitley expressed a largely negative view towards cryptocurrencies in his 2018 budget speech.
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