CRYPTO INSIDER: Bitcoin stages a comeback

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Cryptocurrencies lost close to $100 billion overnight into Friday morning, with the flagship bitcoin sinking as low as $7,720 per coin.

Most cryptos seem to be making a comeback though and are up from their morning lows, with bitcoin down less than 1% on the last 24 hours and back above $9,000 at the time of writing.

Here are the current standings:

• Bitcoin (BTC): $9,071 (-0.1%)
• Ethereum (ETH): $961 (-6.1%)
• Ripple (XRP): $0.93 (-1.5%)
• Bitcoin Cash (BCC): $1,212 (-4.2%)
• Litecoin (LTC): $133 (-5.7%)

What else is happening:

• The bitcoin crash is a blessing in disguise for the US financial system.
• "The mother of all bubbles and biggest bubble in human history comes down crashing," Nouriel Roubini, economist and chairman of Roubini Macro Associates, said.
• South Korea's defense ministry is taking steps to keep soldiers from getting caught up in the cryptocurrency frenzy.
• Two economists just eviscerated bitcoin, saying it should be trading at $20.
• The iced tea company that said it would buy 1,000 bitcoin mining machines is backpedaling on its plans.
• Ripple's CRP tumbled to its lowest price in months.
• Ethereum sank to its lowest prices of 2018.

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