Dec 22, 2017

Bitcoin plunges below $12,000

A visual representation of Bitcoin. Photo: Chesnot / Getty Images

The price of bitcoin plunged dramatically Thursday night, a stunning drop for the digital currency after a year of exponential growth. Bitcoin is currently trading as low as $11,644, according to data from CoinDesk. The currency was trading at about $10,000 at the start of December, and broke $20,000 last weekend.

Why it matters: It's way too early to know whether the plunge is a signal of anything more than the cryptocurrencies' incredible volatility. But as Axios' Steve LeVine points out, this is another reminder of history — these fast, outsized jumps in value have typically ended in tears.

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Axios

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

Global: Total confirmed cases as of 9:45 p.m. ET: 19,282,972 — Total deaths: 718,851 — Total recoveries — 11,671,491 — Map.
U.S.: Total confirmed cases as of 9:45 p.m. ET: 4,937,441 — Total deaths: 161,248 — Total recoveries: 1,623,870 — Total tests: 60,415,558 — Map.
Politics: Trump says he's prepared to sign executive orders on coronavirus aid.
Education: Cuomo says all New York schools can reopen for in-person learning.
Public health: Surgeon general urges flu shots to prevent "double whammy" with coronavirus — Massachusetts pauses reopening after uptick in coronavirus cases.
World: Africa records over 1 million coronavirus cases — Gates Foundation puts $150 million behind coronavirus vaccine production.

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Alexi McCammond, Hans Nichols

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Warren and Clinton to speak on same night of Democratic convention

(Photos: Abdulhamid Hosbas/Anadolu Agency via Getty Images, Sean Rayford/Getty Images)

Sen. Elizabeth Warren and Hillary Clinton both are slated to speak on the Wednesday of the Democratic convention — Aug. 19 — four sources familiar with the planning told Axios.

Why it matters: That's the same night Joe Biden's running mate (to be revealed next week) will address the nation. Clinton and Warren represent two of the most influential wise-women of Democratic politics with the potential to turn out millions of establishment and progressive voters in November.

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Trump considering order on pre-existing condition protections, which already exist

Photo: Jim Watson/AFP via Getty Images

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Why it matters: The Affordable Care Act already requires insurers to cover pre-existing conditions. The Trump administration is currently arguing in a case before the Supreme Court to strike down that very law — including its pre-existing condition protections.