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Cryptocurrencies suffer $18 billion drop in value over three days

Kate Rooney

The entire market capitalization for cryptocurrencies fell by $18 billion over the course of three days, according to CoinMarketCap.com. Bitcoin ended the week down 5 percent but other top cryptocurrencies XRP and ether were down 12 percent and 18 percent, respectively. The sell-off began after reports that cryptocurrency exchange Bitfinex was going to suspend all deposits from fiat currencies, according to Brian Kelly, founder and CEO of BKCM.