The worst week for bitcoin in almost a year is expected.

Due to concerns over the potential dumping of tokens from the now-defunct Japanese exchange Mt. Gox and additional selling by leveraged players following the cryptocurrency’s meteoric rise, Bitcoin was poised for its worst weekly decline in almost a year on Friday.

The biggest cryptocurrency in the world fell to $53,523 on the day, the lowest price since late February, a loss of up to 8%.

It was expected to decrease by more than 12% per week, which would be the most since early November 2022.

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