Bitcoin Price Drops Another $100 on Massive Trading Volumes

[kreslik.news]

Another day, another ride on the Bitcoin rollercoaster. From a level of around $670 yesterday the price of Bitcoin dropped almost as low as $540 today before returning to a level around $590 now. The total market capitalization of all bitcoins in circulation has dropped from a high of over $11 billion ten days ago to just over $9 billion today – a loss of $2 billion dollars in value in a very short time period.

Yesterday the majority of the estimations for the cause of the crash involved service outages at Bitfinex and residual fallout from the DAO attack hurting the credibility of cryptocurrencies. ... (read more)