Bitcoin Just Plunged 20% in a Matter of Hours
Bitcoin plunged as much as 20 percent hours after a rally past $11,000 generated
a surge in traffic at online exchanges that led to intermittent outages.
The plunge capped a wild day for the largest cryptocurrency that included a
breakneck advance to a high of $11,434 before the reversal took it as low as $9,009.
As of 3:36 p.m. in New York, it traded at $9,911.10, virtually unchanged from
where it began the session.
The heaviest selling came amid reports of service outages and delays on some of
the largest online exchanges. The extent of the problems on platforms such as
Coinbase and Gemini remained unclear, with several saying massive spikes in traffic
had caused unspecified problems. Coinbase remained unavailable to some users.
https://www.bloomberg.com/news/articles/2017-11-29/wild-bitcoin-ride-erases-2-200-in-five-hours-after-record-rally
