Bitcoin Plummets More Than 30 Percent in Less Than a Day
- 6 years ago
Bitcoin Plummets More Than 30 Percent in Less Than a Day
The value of Bitcoin, which has surged over the past year, plunged from Thursday to Friday, dropping more
than 30 percent from the high point a day earlier — and 40 percent from the peak earlier this month.
Even Coinbase, a San Francisco company that has become the primary place where ordinary Americans have purchased Bitcoin —
and one of the most highly regulated companies in the industry — has gone down at several points in recent weeks under the stress of all the new users.
The price was briefly below $12,000 on some exchanges, though it had regained some ground
and was hovering around $13,000 by midday in New York — still leaving Bitcoin up 1,200 percent from where it began the year.
Bitcoin’s stratospheric rise hit a major bump on Friday, causing panic among buyers
and the posting of suicide hotline numbers amid the current virtual currency mania.
The value of Bitcoin, which has surged over the past year, plunged from Thursday to Friday, dropping more
than 30 percent from the high point a day earlier — and 40 percent from the peak earlier this month.
Even Coinbase, a San Francisco company that has become the primary place where ordinary Americans have purchased Bitcoin —
and one of the most highly regulated companies in the industry — has gone down at several points in recent weeks under the stress of all the new users.
The price was briefly below $12,000 on some exchanges, though it had regained some ground
and was hovering around $13,000 by midday in New York — still leaving Bitcoin up 1,200 percent from where it began the year.
Bitcoin’s stratospheric rise hit a major bump on Friday, causing panic among buyers
and the posting of suicide hotline numbers amid the current virtual currency mania.