Boom: Bitcoin plunges $1,000 in less than an hour
What goes must come down. It seems the law of gravity does not apply to Bitcoin. Finally, Bitcoin drops more than 8% as top cryptocurrency marketplace starts supporting rival bitcoin cash. The digital currency fell from $17,929 to a low of $16,912 between 3:30 and 4:30 p.m., ET, according to Coinbase, the leading U.S. platform for buying and selling major cryptocurrencies. Bitcoin had traded near $19,800 on Sunday. So far, Bitcoin’s price has fallen 15 percent from its recent all-time high, dropping by more than $1,800 since the start of the day.
It is uncertain if the fall has anything to do with the new Bitcoin trading that started on the huge Chicago Mercantile Exchange (CME) financial futures market. Trading Bitcoin on CME exchange is another step towards moving Bitcoin to mainstream investing.