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Bitcoin Ends Day Above $1,000 as Price Mounts Recovery

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Bitcoin Price Dives After China’s Central Bank Urges Investor Caution

Bitcoin Price Dives After China's Central Bank Urges Investor Caution*/

– Bitcoin plunged by as much as 12% on Friday after China’s central bank urged investors to take a rational and cautious approach to investing in the digital currency, which is on track for its heaviest two-day drop in two years.Bitcoin had been on a tear until Wednesday, gaining more than 40% in two weeks to hit around $1,139 on the Europe-based Bitstamp exchange, just shy of its all-time record of $1,163.But the web-based digital currency, which has shown an intriguing inverse correlation to the Chinese yuan in recent months, plunged as the yuan soared on Thursday, falling as much as 20% at one point.
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Bitcoin Ends Day Above $1,000 as Price Mounts Recovery

Bitcoin Ends Day Above $1,000 as Price Mounts Recovery*/

– After falling sharply to a near two-week low today, bitcoin prices are on the rebound.At the close of CoinDesk’s Bitcoin Price Index (BPI) for 5th January, the price of bitcoin was $1,005.82, a figure that was up more than $100 from earlier in the day.At roughly 14:00 UTC, bitcoin suffered a sudden and sharp selloff, plunging close to $200 in a movement that sparked headlines around the globe.
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