08 Dec '17, 6pm

Bitcoin tumbles after dramatic gains ahead of futures launch

LONDON/NEW YORK (Reuters) - Bitcoin lost almost a fifth of its value in 10 hours on Friday, having surged more than 40 percent in the preceding 48 hours, sparking fears the market may be heading for a price collapse. In a hectic day on Thursday, bitcoin leapt from below $16,000 to $19,500 in less than an hour on the U.S.-based GDAX, one of the biggest exchanges globally, while it was still changing hands at about $15,900 on the Luxembourg-based Bitstamp. Some market watchers attributed the lurch higher to the coming launch of bitcoin futures on major exchanges. Having then climbed to $16,666 on Bitstamp at around 0200 GMT on Friday, it tumbled to $13,482 by around 1200 GMT - a slide of more than 19 percent. It was last down 8.2 percent at $15,232.32 on BitStamp. On Sunday, the Chicago-based Cboe Global Markets exchange is due to launch a futures contract on the digital cur...

Full article: https://www.reuters.com/article/uk-markets-bitcoin/bitcoi...

Tweets

Bitcoin futures launch sends bitcoin up $1,000

Bitcoin futures launch sends bitcoin up $1,000

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