In a roller coaster ride of a high of $1242 and current price near $868, Bitcoin is volatile like the markets during the credit crisis. From Zero hedge:
From it’s gold-matching highs at $1242 on Thursday night, the price of Bitcoin has collapsed 31% to $868 on heavy volume. Of course, this is only a one-week low for the exuberant digital currency but still a significant plunge (as its smaller brethren Litecoin has collapsed 51% from its highs). Interestingly, this drops the price of Bitcoin in USD below the ‘arb’-based price of Bitcoin in China ($965). It seems, all coincidence aside, that the BIS infamous plunge-protection-team has been re-trained…
and as BTC collapsed, Gold rallied…
