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The world of cryptocurrencies is on fire, with the price of bitcoin slumping from $14,755 a piece to $9,928 in the space of a week, having shot up to almost $20,000 in mid-December.
Ethereum, the world’s second largest cryptocurrency, fell from a high of $1,415 at the weekend to under a thousand dollars on Tuesday; its next biggest competitor – finance industry-backed Ripple – fell from a high of $3.40 on January 7 to just under a dollar.
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