Bitcoin experienced a “flash crash” this morning, dropping from near $700 to $100 early Monday before stabilizing. The lunchtime price, quoted at Bitcoin Wisdom, stood near $655.
As reported in ValueWalk earlier this morning, the price dive occurred as talk of a crackdown in the U.S. and Russia came on the back of a technical glitch hitting the largest Bitcoin processor, Japanese-based Mt. Gox, all of which riled participants in the bitcoin market.
This drop in price was notable for several reasons.
Breaking out of previous range
The spike lower occurred on heavy volume but thus far the volume has not outpaced that on December 6, when Bitcoin had ended a three-day drop from $1,077 to...
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