Bitcoin tumbles almost 30 per cent in volatile trading

23 December, 2017, 01:49 | Author: Franklin Nunez
  • Bitcoin Crushed Crypto Currency Market Loses $200 Billion

The value of bitcoin tumbled almost 30 percent during a volatile session Friday, testing investors who have recently sent the cryptocurrency to astronomical heights and marking a major drop for the largest virtual currency in a highly volatile market. The exchange has been at the center of the news after insider trading allegations surfaced.

It was only a month ago that it was disclosed that Coinbase had more users than stock brokerage Charles Schwab, and for those reasons and many more, it is surprising to realize that this isn't the first issue the exchange has faced in recent months. That includes sharing that information with friends and family. "If we find evidence of any employee or contractor violating our policies - directly or indirectly - I will not hesitate to terminate the employee immediately and take appropriate legal action".

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.

Colder Friday, rain and snow chances
The temp will swing wildly from the low to mid 20s Friday , to near 40° Saturday , and then falling into early next week. Another cold front comes through on Friday , bringing another chance of heavy rain, mainly in the afternoon and evening.

However, as Bitcoin is a volatile currency, ups and downs in the price are not something unusual. The fork was backed by one bitcoin group that wanted to combat bitcoin's high transaction fees and the size limit that made mining larger blocks of data invalid.

Warnings and red flags piled up for cryptocurrency investors over the past week.

Buys and sells of bitcoin cash, another cryptocurrency, were disabled on Coinbased Tuesday.

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Buying and selling on popular cryptocurrency exchange Coinbase was disabled Friday. Although Bitcoin Cash has seen less extreme growth in valuation than Bitcoin, which skyrocketed past $15,000 per coin this month, Bitcoin Cash's value has steadily risen.

We've reached out to Coinbase for clarification and will update this story when we hear back.

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