12 Apr '13, 1am

Bitcoin Plunges To $78 As Exchange Reopens

Bitcoin Plunges To $78 As Exchange Reopens

Mt. Gox, the world's largest Bitcoin exchange, has just reopened following a 12-hour trading halt. The virtual currency is plunging. It reopened at $78, instantly losing 35% of its value from where it was when trading was halted earlier today ($120). From yesterday's intraday peak of $266, Bitcoin has now lost 70% of its value. bitcoin.clarkmoody.com Note: This chart has no x-axis, but it shows Bitcoin prices from April 9 through today. Earlier today, Mt. Gox halted trading, saying the market needed to "cool down" after a massive sell-off yesterday that at one point resulted in a 61% decline from the virtual currency's peak intraday price of $266. The problem, according to the exchange, was a massive influx of new users in recent days, causing the trading platform to lag, which sparked a sell-off among skittish traders. Trading could be volatile. Bitcoin has been trading b...

Full article: http://www.businessinsider.com/mt-gox-reopens-after-bitco...

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