The virtual currency Bitcoin has undergone more than 60% drop in one day
Bitcoin on Wednesday hit a massive slump. Within a day or virtual currency lost as much as 60% of its value, while at one point traded at only 105 USD. Shortly after that, but a large part of the losses repudiate and went back above 150 USD. It is one of the most dramatic movements that Bitcoin market in recent days has occurred.
Bitcoin works as a classical medium of exchange and through the Internet can buy almost anything. Unlike conventional fiat currency Bitcoin is not regulated but no institution (the central bank) and is considered the official currency in any state ...
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