LONDON Digital currency bitcoin fell more than 20 percent in the space of four hours of trading on Thursday, putting it on track for its worst daily performance in nearly two years.
The web-based “cryptocurrency” had been on a tear for the two previous weeks, gaining more than 40 percent to hit a three-year high of $1,139.89 on Wednesday, just shy of an all-time high of $1,163 on the Europe-based Bitstamp exchange BTC=BTSP.
But it dived from around $1.1130 to a low of $885 in between 0925 and 1325 GMT (8:25 a.m. ET) on Thursday, leaving it at its weakest since Dec. 25.
(Reporting by Jemima Kelly, Editing by Vikram Subhedar)
TheBitcoinNews.com – Bitcoin News source since 2012
Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. TheBitcoinNews.com holds several Cryptocurrencies, and this information does NOT constitute investment advice or an offer to invest.
Everything on this website can be seen as Advertisment and most comes from Press Releases, TheBitcoinNews.com is is not responsible for any of the content of or from external sites and feeds. Sponsored or guest posts, articles and PRs are NOT always flagged as this. Expert opinions and Price predictions are not supported by us and comes up from 3th part websites.
Advertise with us : Advertise