06 Dec '13, 9pm

Bitcoin Crashed Today via @HuffPostCode

Bitcoin Crashed Today via @HuffPostCode

Bitcoin's value plummeted today, by 25% from a high of over 1100 US dollars per BTC to a low value of under 830. The virtual currency , whose value has increased five-fold in just over one month, has been at risk of such a spectacular crash due to speculative investment in the now multibillion dollar market. While the bitcoin market has historically been volatile, recent events have increased confidence in the currency. Prior to October, many investors avoided bitcoin due to the reputation of Silk Road - the largest bitcoin-only marketplace - as a trading post of illegal goods. Investors had long feared that a shutdown of Silk Road would result in a catastrophic crash of Bitcoin's exchange rate. However, following the October 1st arrest of Silk Road mastermind Ross Ulbricht and the site's shutdown, bitcoin's value dropped from 150 to 110 USD and within a week, recovered to...

Full article: http://www.huffingtonpost.com/2013/12/06/bitcoin-crash_n_...

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