Nov 29, 2017

Bitcoin plunges after hitting record

Bitcoin fell almost 20% today according to CoinDesk data, before stabilizing. Bloomberg reported the price plunged "amid reports of service outages and delays" at some large online Bitcoin exchanges.

Data: CoinDesk; Chart: Axios Visuals
Data: CoinDesk; Chart: Axios Visuals

Why this matters: The price of Bitcoin is up more than 800% this year (it passed $10,000 for the first time earlier today) while at the same time facing criticism from some in the financial community, like JP Morgan CEO Jamie Dimon who called it a fraud.

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