03 Apr '13, 3pm

Bitcoin’s largest market crashes after wild price swing

Bitcoin’s largest market crashes after wild price swing

Bitcoin’s largest market crashes after wild price swing By Zachary M. Seward — April 3, 2013 Trading in bitcoin today (times in GMT) This is just a taste of what’s to come. The largest market for trading bitcoins, Tokyo-based startup Mt. Gox , went down for about an hour today, after the alternative currency’s value swung more than 20% this morning. It’s clear as day in the charts above, and Mt. Gox confirmed its downtime in a statement : “Due to high volume trading at the moment, there is a lag in trading and order cancellation.” It appears that normal trading has just resumed, according to several bitcoin investors contacted by Quartz and others who use Reddit to follow the currency , but it remains to be seen whether trades during the downtime will be honored. Disruptions in bitcoin trading are fairly common—I wrote about how a software glitch caused a market crash just...

Full article: http://qz.com/70381/bitcoins-largest-market-crashes-after...

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