The Phaserl


Bitcoin Reopens, Instantly Plunges 35%, Then Erases Losses

by Matthew Boesler, Business Insider:

Mt. Gox, the world’s largest Bitcoin exchange, reopened at 10 PM ET following a 12-hour trading halt.

The virtual currency plunged to $78, instantly losing 35% of its value from where it was when trading was halted earlier today ($120).

From yesterday’s intraday peak of $266, Bitcoin had lost 70% of its value.

In the last few minutes, though, it’s completely erased the losses from the post-reopening plunge, and is now trading around $123.

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4 comments to Bitcoin Reopens, Instantly Plunges 35%, Then Erases Losses

  • none

    Its back down to about $95 and trading has been halted again on clarkmoody

  • AgShaman

    It’s a bad sign if they have to halt trading.

    I wonder how many points they will let the DOW drop, once they are finished with propping it?

    People that love volatility must be having a great time.

  • justsaying

    Look at silver and Gold… they are taking a beating as well… I am glad that I have been saving my money since Silver hit 30. It is now time to buy a couple of more coins and save the rest for later just, just, just in case it drops lower. Some expert have being saying that we might see low 20s. I don’t want to miss that opportunity if it does happens.

    Remember, Stick to the Plan… be patiente and buy a little at the time. Don’t get sway by the propaganda. This is going to take while ( and I mean years) before we see major changes.

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