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Why Bitcoin Dropped 4.5% on Friday

TheMotleyFool

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The value of cryptocurrency giant Bitcoin (CRYPTO: BTC) has fallen as much as 4.5% in the last 24 hours and was down 1.3% as of 3:20 p.m. EST on Friday. The token is down about 7.2% since hitting an all-time high of $69,000 in trading on Wednesday.

The biggest news in the world of Bitcoin is that the City of Miami plans to hand out free Bitcoin to residents from the profit of its Miami Coin. The coin has generated $21 million in profits for the city, and Mayor Francis Suarez says the city will return that money to citizens through cryptocurrency wallets.

Image source: Getty Images.

Source Fool.com

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