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Tech blip: Bitcoin plunges more than $1,800 within 10 minutes

Bitcoin soared as much as 39% this week to $13,852, the highest since January 2018

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This week’s jump in Bitcoin prices revived themes well known to the digital currency that inflated then burst less than two years ago. Among them: enormous volatility, and exchange overloads.

Bitcoin soared as much as 39% this week to $13,852, the highest since January 2018. But it hit a brick wall around 4:30 p.m. New York time Wednesday, plunging more than $1,800 within about 10 minutes. Moments later, prominent cryptocurrency exchange Coinbase Inc. reported a system outage, which was resolved after an hour. Swings continued Thursday, with the coin anywhere from down 7.3% to up 4.8%.
 
It was down 4.8% to
Topics : Bitcoin

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First Published: Jun 27 2019 | 11:37 PM IST

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