Bitcoin’s 2-Day Plunge Threatens Mainstream Adoption
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The price of bitcoin has plummeted 32 percent in two days, as the virtual currency’s volatility threatens to undermine its ability to gain mainstream use.
Bitcoin’s price declined 15 percent yesterday and 20 percent today to $181.45, its lowest level since October 2013, according to CoinDesk’s Bitcoin Price Index, an average of bitcoin prices across leading global exchanges. Bitcoin’s 58 percent plunge last year already made it one of the biggest money-losing investments of 2014, worse than oil or the ruble.