Bitcoin Recovers Some Losses After Its Worst Week Since 2013
Posted by BeauHD on 26th December 2017
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An anonymous reader quotes a report from Reuters: Bitcoin fell nearly 30 percent at one stage on Friday to $11,159.93. At 3:09 p.m. (2009 GMT) on Tuesday, bitcoin BTC=BTSP was up 15 percent at $16,030 in light trading on the Luxembourg-based Bitstamp exchange. The digital currency had risen around twentyfold since the start of the year, climbing from less than $1,000 to as high as $19,666 on Dec. 17 on Bitstamp and to over $20,000 on other exchanges. Critics have pointed to bitcoin’s design flaws and hacks of digital “wallets” in which bitcoins are kept as an alternative to traditional currencies. Prices of other cryptocurrencies, which slid along with bitcoin last week, have also recovered, with Ethereum, the second-biggest cryptocurrency by market size, quoted around $771, up from Sunday’s low of $689 but still far from highs around $900 hit last week.

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