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Bitcoin Plummets More Than 30 Percent in Less Than a Day

From nytimes.com

You can’t exactly say that Bitcoin was burning a hole in anyone’s pocket, but the virtual currency burned a hole in quite a few hearts on Friday when it plunged 30 percent in less than 24 hours after defying gravity for the past few months. Many skeptics of the virtual currency, which operates with no government or company in charge, have predicted that it was in bubble territory and due for a collapse. Still, the drop to around $12,000 a Bitcoin from around $17,500 was enough to set off a panic among buyers, even while stock market investors remained calm and much of the world, unaware that Bitcoin exists, was ... (full story)

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  • Category: Fundamental Analysis