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Bitcoin is crashing

From businessinsider.com

Bitcoin is getting smashed. The cryptocurrency was down 18% to about $892 per coin as of 8:17 a.m. ET on Thursday. It is the biggest drop in two years. Earlier this week, on its first trading day of the new year, bitcoin crossed above the $1,000 mark for the first time since 2013, but it has now tumbled below that level. From the end of September through Wednesday — just before the plunge — bitcoin gained nearly 100%. It was supported by renewed interest from China, where money rushed out of the country as its currency, the yuan, continued to weaken. But on Thursday the yuan witnessed its biggest two-day rise since ... (full story)

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  • Category: Breaking News