03 Apr '13, 2pm

Bitcoin price goes on wild ride

Bitcoin price goes on wild ride

Bitcoin prices were very volatile in overnight trading. NEW YORK (CNNMoney) The price of the virtual currency bitcoin, already volatile in recent weeks, went through wild swings in overnight trading Tuesday and Wednesday. According to prices quoted on Mt.Gox, the main trading exchange for bitcoins, the value of one bitcoin ricocheted from $106 to as high as $147, then back down to $125, then to $141. Two weeks ago, a bitcoin was worth only $47. When Mt.Gox started tracking prices in mid-2010 the price stood at only 5 cents per bitcoin . Investors have been pouring into bitcoins and gold in recent weeks, as authorities in Cyprus imposed a tax on top bank depositors and placed limits on bank withdrawals in order to pay for a European bailout of the banking system there. Related: Bitcoin prices surge following Cyprus bailout Bitcoin is a four-year-old digital currency develop...

Full article: http://money.cnn.com/2013/04/03/investing/bitcoin-price/i...

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