(MENAFN) On Friday, Bitcoin plunged to scales not recorded in over than three months, it declined by 40 percent from its highest peak of USD69,000 registered two months ago; in the midst of a wider cryptocurrency sell-off.

The world 's top valued cryptocurrency plummeted to low levels of 3.7 percent to USD40,938, which is the lowest it's been ever since late September. Ether, the second biggest cryptocurrency, extremely deteriorated by 9 percent to its lowest level since September 30. In accordance with CoinGecko's statistics both of these collectibles, as well as others like Binance Coin, Solana, Cardano, and XRP, have over 10 percent in the previous week.

The recent decline is related to an abrupt dip in the cryptocurrency network's worldwide virtualized power following Kazakhstan's internet outage which was designed to suppress the ongoing revolt. After China issued a restraint on the activity, which resulted in the exclusion of majority of its crypto miners, Kazakhstan was home to an accelerating amount of crypto-mining businesses.

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