Cryptocurrencies
Bitcoin Loses About $3,000 in a Flash as Volatility Increases
- Price crash is the second in as many days for Bitcoin
- Volatility is a defining characteristic of the cryptocurrency
This article is for subscribers only.
Bitcoin’s wild price fluctuations continued, with the largest cryptocurrency spiking downward by about $3,000 in a matter of seconds during mid-afternoon trading.
The dramatic price move followed a similar pattern seen on Wednesday, when Bitcoin slumped quickly in early trading for no identifiable reason. The digital asset, which has traded within a range of about 8% Thursday, bounded back to recoup all of the move and was up about 4.7% to $61,682 as of 4:20 p.m. in New York.