Bitcoin Sinks To Cap Week Of Warnings, Insider Trading, Bankruptcy

Bitcoin Sinks To Cap Week Of Warnings, Insider Trading, Bankruptcy

And on Thursday, Bank of Japan governor Haruhiko Kuroda called bitcoin's price surge "abnormal", according to Bloomberg. As Russell notes, it's hard to say why this is happening, "in the same way that nobody knows exactly why bitcoin's price has [shot] up from a touch under $1,000 at the start of the year".

Coinbase, one of the biggest cryptocurrency marketplaces, said later Friday that trading in Bitcoin may be offline because of high traffic.

On Tuesday, the owner of the South Korean Youbit digital currency exchange filed for bankruptcy after a hack resulted in the loss of 17 percent of its assets.

At its lows, bitcoin had fallen 47 percent in just five days and lost about $9,400.

"We see the exit of short-term speculators and we have seen it before".

More news: Iced Tea Company's Stock Price Triples after Rebranding to "Long Blockchain Corp".

Bitcoin cash dropped nearly 32% to $2,462 as of 4:09 a.m., ET, according to CoinMarketCap.

Bitcoin's large CME (NASDAQ:CME) futures launched this last Sunday, catapulting its price to almost $20,000 before dropping to a sharp low of $12,504 this morning.

Ripple, or XRP, was the only major cryptocurrency trading higher on Friday.

Bitcoin was trading at $11,910 as of Friday morning, according to, sending the currency down 27 percent since Thursday. It was trading back near $12,750 mid-morning Friday. XRP is the digital coin that network participants use for transactions.

Chances are that if Bitcoin gets brought up in conversation, that conversation will go one or two ways: either the people discussing it will love it or they will hate it; either they will want to invest all of their money in the digital currency or they will argue that it is a speculative bubble. Its content is produced independently of USA TODAY.

Related Articles