Bitcoin drops below $40,000 amid crypto slide after Russia proposes ban


    Cryptocurrency prices tumbled overnight, with bitcoin hitting its lowest price since last August.

    Bitcoin
    BTCUSD,
    -6.27%
    ,
    the world largest crypto by market cap, slid more than 6% and dropped below the $40,000 level, last trading at about $38,800 as of midnight Friday. Ether
    ETHUSD,
    -7.52%
    ,
    which runs on the ethereum blockchain, fell 7% to about $2,868, and XRP
    XRPUSD,
    -5.36%
    ,
    Bitcoin Cash
    BCHUSD,
    -6.89%
    ,
    Litecoin
    LTCUSD,
    -7.40%

    and Monero
    XMRUSD,
    -4.82%

    all posted sharp losses, according to Kraken data.



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