Bitcoin Down 30% this week, Worst run since 2013

Bitcoin is down by more than 30 percent this week, its worst weekly performance since April 2013 according to data from Reuters.

On Friday’s trading, the crypto fell by more than 10% to below $8000 on bitstamp exchange following reports about potential price manipulation at a major exchange.

Total market capitalization of all digital currencies in circulation stood at little over $392 billion on Friday, indicating a fall of over $125 billion in just one day. The negative trend continued amid news on cryptocurrency crackdown in India, as well as recent crypto ads ban by Facebook.

Other major digital currencies have lost more than 20 percent of their value in the last 24 hours of trading as the US Commodity Futures Trading Organization (CFTC) reportedly launched a probe into Bitfinex as the exchange allegedly used tether to buy bitcoin, which may have caused its previous surge.

Bitcoin is down by more than 40% in 2018 from a December peak of almost $20,000.