Bitcoin Crashes (Again)
The virtual currency bitcoin suffered further price volatility on Monday as major exchange Mt Gox blamed its ongoing technical issues on a critical flaw in the cryptocurrency which it said affected all exchanges.
Bitcoin withdrawals at the Japan-based exchange were halted over the weekend as its technical team investigated a problem with the way bitcoin withdrawals are processed. In a new statement on Monday Mt Gox said it would resume bitcoin withdrawals to outside wallets once the issue had been properly addressed in a manner that would best serve its customers.
The digital currency — which is known for its wild price fluctuations — fell to around $680 on Friday morning, having traded around $850 for most of the week, according to CoinDesk, which tracks the price of bitcoin.
On Monday after the statement from Mt Gox the currency fell to around $538, with investors deciding to offload further, but staged a small turnaround shortly afterwards.
http://www.nbcnews.com/business/markets/bitcoin-tumbles-another-20-exchange-blames-bug-n26396
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