Cryptocurrency – Bitcoin drops massively below $10,000 in minutes
Cryptocurrency is the new hype in the town. People are investing madly in cryptocurrency since the success of Bitcoin in the past few years so much so that the Bitcoin now has a market value of about $180 million. With cryptocurrency comes the massive risk of volatility as evident by the steep rise and fall in the price of Bitcoin in the past few months. While the Bitcoin witnessed a low of $8,757 this week on 26 November, it bounced back to an all time high of $11,000 yesterday. But in just a few minutes after reaching an all time high of $11,000 it dropped steeply to a low of $9,290 in just a few minutes. According to social media, the price decline coincides with reports that GDAX, the exchange offering of cryptocurrency startup Coinbase, had seen a service outage that is currently ongoing. Data from GDAX indicates the exchange hit a low of $8,593 before going offline. Social media reports also suggest that Bitstamp and Gemini hav...