It was a hell of a ride. Peaking at nearly $11,400 earlier this week, Bitcoin's value dropped by a fifth Thursday, deflating the cryptocurrency's explosive growth since last year. Reuters:
One market-watcher attributed the fall to outages in bitcoin exchanges and the heavy price surge of recent times.
“Naturally a few of the early bitcoin traders are taking some profits off the table,” said Charles Hayter, founder of CryptoCompare.com.
“Volatility is in the market at the moment and that means both positive and negative moves.”
The latest fall has tempered an astronomical rise for the cryptocurrency in recent months - bitcoin was up almost 1,100 percent year-to-date on Wednesday. As of 1500 GMT on Thursday, it was still up around 880 percent.
A report from Bitwise -- an investment firm lobbying for FEC approval for a cryptocurrency based exchange-traded fund -- found that 95% of the trading volume in Bitcoin was fake, ginned up through techniques like "wash trading" where a person buys and sells an asset at the same time.
Facebook is said to be developing a ‘stablecoin,’ which is a kind of digital currency pegged to the U.S. dollar.
“After Gerry’s death, Quadriga’s inventory of cryptocurrency has become unavailable and some of it may be lost,” said his widow.
So you cut the cord and got rid of cable? Join the steadily growing club. But while you’re out picking a streaming service, you might find one big blind spot: Local TV and sports, not to mention first-run programming from the big cable networks. Luckily, there’s a throwback way to get it for free: The […]
Even if you feel like AirPods are worth the price tag, you’ve got to admit there’s a certain anxiety that comes with using them. What if I lose them? What if they get wet in the rain? Or drenched in sweat? Or fall into the drink you dropped them into? Shiny tech is great, but […]
With the quick-fix appeal of video games and their own cell phones, it can be tough to keep kids focused on supposedly “educational” toys. And while it may seem counter-intuitive to fight tech with more tech, we’re all in when it comes to the Toybox 3D Printer. We’re not sure if anyone had envisioned a […]