Bitcoin is on the ropes again.
Its price plummeted more than 10% on Wednesday, hitting its lowest level in more than a year. It’s now trading below $6,000, far from the heights it reached during its meteoric rise at the end of 2017.
After nearly touching $20,000 in December 2017, bitcoin’s value nosedived in volatile trading over the months that followed. But it has enjoyed a period of relative stability since early September, hovering between $6,000 and $7,000.
Wednesday’s drop is a sharp reminder that cryptocurrencies are still an extremely volatile investment. Read more