10 Apr '13, 8pm

Bitcoin hits new high before losing $160 in value in one day

Bitcoin , the digital currency, lost more than $160 (£104) in value on Wednesday, just hours after hitting a record high. The currency hit a new high of $266 before falling to $105 and then bouncing back to $130. The fall is unlikely to put off speculators. Two months ago, a Bitcoin was worth $20. With Europe racked by economic uncertainty following the banking crisis in Cyprus, there have been fears that a "bubble" is being created with speculators piling into the four-year-old digital currency. But Bitcoin has crashed before only to bounce back. It hit a low of $7 in August 2011 after hitting a high of $32 two months earlier. Jon Matonis of the Bitcoin Foundation, the currency's promoter, denied a euro-bubble was being created in an interview with Der Spiegel this week. "Most transactions are still coming from affluent regions, like the United States and northern Europe....

Full article: http://www.guardian.co.uk/technology/2013/apr/10/bitcoin-...

Tweets

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11 April 2013 Last updated at 10:43 GMT Share this page Delicious Digg Facebook reddit StumbleUpon Twitter Email Print Bit...

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bbc.co.uk 11 Apr '13, 10am

11 April 2013 Last updated at 10:43 GMT Share this page Delicious Digg Facebook reddit StumbleUpon Twitter Email Print Bit...

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