Bitcoin is heading for its worst week in six months

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Bitcoin was trading more than 3% lower on Friday morning.

The price was around $ 57,200 per coin, while rivals Ethereum and Dogecoin were trading around $ 4,160 and 22 cents per coin, respectively, according to Coindesk.

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Bitcoin fell to a one-month low on Friday and was heading for its worst week in six months as traders recorded profits from a long rally and were frightened by hopes that the exchange’s creditors crypto collapsed Mt Gox could liquidate their payments, according to Reuters.

The largest cryptocurrency by market value, bitcoin traded at just $ 55,980 overnight, its lowest since mid-October and 20% below last week’s all-time high.

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For the week, bitcoin has fallen 14%.

Cryptocurrencies like Bitcoin and Ether appear to have suffered, as the mood in global markets has been cautious in recent days amid concerns over economic growth, interest rates and inflation, according to Reuters.

In other cryptocurrency news, a rare copy of the U.S. constitution was auctioned Thursday for $ 43.2 million, a record price for a printed text, according to auction house Sotheby’s.

A crowd-funded attempt by cryptocurrency enthusiasts lost the auction at this price. It is not known why the cryptocurrency group, called “ConstitutionDAO”, was outbid because their crowdfunding page had raised more than $ 47 million, according to Reuters.

A 1787 copy of the United States Constitution which sold for $ 43.2 million, a new world record for the most valuable historical document ever sold at auction, at Sotheby’s in the Manhattan neighborhood of New York , New York, United States, September 9, 2021.

The identity of the successful bidder was not immediately disclosed.

ConstitutionDAO said on Twitter, promising its 17,437 backers a refund minus transaction fees.

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The extremely rare first official printed edition of the Constitution of the United States, which was adopted by America’s Founding Fathers in Philadelphia in 1787, was estimated by Sotheby’s to be worth $ 15-20 million.

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