Bitcoin price surges back up after dramatic plunge

Digital money had lost a third of its value in just a couple of weeks

Andrew Griffin
Wednesday 28 November 2018 15:49
Comments
Crytocurrencies: The snake oil of the financial world?
Crytocurrencies: The snake oil of the financial world?

Bitcoin's price has surged back up after a run of terrible performance.

The value of cryptocurrency has crashed dramatically in recent weeks that some feared the market was crashing altogether.

But the price has now surged by almost 10 per cent, putting it on course for its best day since the summer.

Even in the midst of that dramatic crash – during which some bitcoin mines went closed and companies went bankrupt because the value dropped so lowsome experts suggested the performance was simply a blip rather than a more fundamental change in cryptocurrency's value.

The plunge meant that bitcoin lost a third of its value in two weeks, with no clear reason.

It has no risen back to daily high of $4,157, its strongest in four days on the Bitstamp exchange. Other cryptocurrencies also rose.

Register for free to continue reading

Registration is a free and easy way to support our truly independent journalism

By registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalists

Please enter a valid email
Please enter a valid email
Must be at least 6 characters, include an upper and lower case character and a number
Must be at least 6 characters, include an upper and lower case character and a number
Must be at least 6 characters, include an upper and lower case character and a number
Please enter your first name
Special characters aren’t allowed
Please enter a name between 1 and 40 characters
Please enter your last name
Special characters aren’t allowed
Please enter a name between 1 and 40 characters
You must be over 18 years old to register
You must be over 18 years old to register
Opt-out-policy
You can opt-out at any time by signing in to your account to manage your preferences. Each email has a link to unsubscribe.

By clicking ‘Create my account’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Already have an account? sign in

By clicking ‘Register’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Register for free to continue reading

Registration is a free and easy way to support our truly independent journalism

By registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalists

Already have an account? sign in

By clicking ‘Register’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Join our new commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in