Bitcoin loses 21 percent of its value in broad cryptocurrency rout

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The cryptocurrency world has experienced its biggest one-day plunge in months. Bitcoin, the most popular cryptocurrency, is down 21 percent over the last 24 hours. Earlier today, Bitcoin fell below $6,000 for the first time since May 2019.

Ether, the currency of the Ethereum network, is down a whopping 27 percent. Lesser-known cryptocurrencies have seen similarly large losses.

There's no obvious cryptocurrency-specific reason for the crash. Instead, it seems to be part of the broader coronavirus-related selloff that has rocked stock markets around the world.

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