Bitcoin continues to decline

Bitcoin fell for a fourth straight trading session. The digital asset fell as much as 5.6% to its lowest level since February and was around $55,500 as of 11:20 a.m. Friday in Singapore. Smaller cryptocurrencies like Ether and XRP suffered even bigger losses of more than 10%. Crypto speculators are currently facing a number of challenges, including declining demand for funds traded on the U.S. Bitcoin Exchange, signs that governments are dumping seized tokens and uncertainty in U.S. politics. Moreover, the administrators of the failed Mt. Gox exchange are gradually returning some of the Bitcoin to creditors. Speculators are not sure how much of the $8 billion haul will be sold. A wallet connected to Mt. Gox moved $2.7 billion worth of tokens on Friday, according to Arkham Intelligence.