Bitcoin tumbles almost 30 per cent in volatile trading

Bitcoin plunges below $11000 in volatile trading on Coinbase as rout accelerates; now down 40 percent from record

The value of bitcoin tumbled almost 30 percent during a volatile session Friday, testing investors who have recently sent the cryptocurrency to astronomical heights and marking a major drop for the largest virtual currency in a highly volatile market.

Just after midnight Eastern Time on Friday, the cryptocurrency was valued at a little over $15,000, on the digital currency exchange Coinbase. Bitcoin has bounced back from several declines of more than 20% this year to reach new record highs.

A new kind of digital dosh called Bitcoin Cash is gaining mainstream acceptance and is now available to buy and sell through Coinbase, a major cryptocurrency exchange.

With that being said, I'm sad to report that it's not just Bitcoin struggling on Friday.

Coinbase immediately halted the trading of Bitcoin Cash, after the rumors of insider trading at the exchange went viral. On Tuesday, Coinbase surprised many by announcing it was launching trading in the bitcoin offshoot, bitcoin cash.




Coinbase, the biggest platform for buying and selling bitcoin, announced on Wednesday that it will be supporting Bitcoin Cash.

As of 1:30 p.m. EST Coinbase is still down for most users.

The outage occurred while major cryptocurrencies were trading in the red. "We are working on a fix and apologize for any inconvenience", Coinbase said on its status website at 11:11 a.m., ET.

During the middle of the week, numerous altcoins were making price gains while Bitcoin continued it's bearish descend.

Stocks such as Riot Blockchain that have soared dramatically on speculation around their connection to bitcoin and its underlying blockchain technology also traded lower Friday morning by double-digits.

Related news:

Hot News

isis-killer-beheading-video-story-top European Union rules Uber is a transport firm
Dec 22, 2017 - 01:30
The group argued that it was unfair that Uber did not have to adhere to the same rules in the city. Even so, the tech giant has long maintained that they're not, in fact, a transportation company.

isis-killer-beheading-video-story-top Ryanair says agrees to new meeting with German union VC
Dec 22, 2017 - 01:13
The Ryanair pilots in Germany said they had wanted to join their counterparts in Ireland, Italy as well as Portugal and mount a strike on Wednesday.

isis-killer-beheading-video-story-top McLennan County sees spike in flu cases
Dec 22, 2017 - 01:11
The importance of getting the flu shot is especially true for young people and those with chronic medical conditions, she said. Last week , a Yukon elementary school was forced to close its doors after 115 students and 10 teachers called in sick.

isis-killer-beheading-video-story-top Sheriff offers grisly details to end speculation about woman killed by dogs
Dec 22, 2017 - 01:10
Bethany Lynn Stephens' , from Virginia in the U.S. , adored her pet pitbulls Tonca and Pac-Man, having raised them from puppies. When they turned back around, they saw that the dogs had walked over to the body. "None of that", Whitlock told reporters.

isis-killer-beheading-video-story-top Long Island Iced Tea changing name to Long Blockchain
Dec 22, 2017 - 01:08
This morning the stock rose as high as $9.23, which are levels the company hasn't seen since 2016. Here's a great example of just how insane people are going for blockchain.

isis-killer-beheading-video-story-top Jeep Cherokee 2018 revealed
Dec 21, 2017 - 01:10
Blue interior backlighting gives way to white on the new model, and the gauges look to have been slightly redesigned as well. Ahead of its debut at the 2018 Detroit Motor Show in January , Jeep has already given us a sneak peek of the 2019 Cherokee.

isis-killer-beheading-video-story-top Ryanair eyes new bases in France, Scandinavia after union move
Dec 21, 2017 - 01:09
Pilots had complained of a toxic atmosphere at Ryanair , where many had always been indirectly employed through third parties, an arrangement that had seen some pursued by tax authorities .

isis-killer-beheading-video-story-top New York Islanders to Land Belmont Park Site for Arena
Dec 21, 2017 - 01:09
The deal could be announced as soon as Wednesday, one of the people said. "This site will be the home of economic development". With the news of the Islanders heading back to Nassau County, loyal fans of the franchise can now breathe a sigh of relief.

isis-killer-beheading-video-story-top PUBG Has Just Had its First Xbox One Patch
Dec 21, 2017 - 01:07
The launch of Playerunknown's Battlegrounds ( PUBG ) on Xbox One hit one million players within 48 hours of its launch. The first ever Xbox One Battlegrounds patch weighs in at around 4.71GB, and can be downloaded right now.

isis-killer-beheading-video-story-top Giants acquire Evan Longoria, cash from Rays for 4 players
Dec 21, 2017 - 01:07
They may now be able to keep some of their other top players and continue to rebuild with a rather impressive farm system. At last season's trade deadline, the Giants sent third baseman Matt Duffy to Tampa Bay for lefty starter Matt Moore .

isis-killer-beheading-video-story-top Facebook reveals data on copyright and trademark complaints
Dec 20, 2017 - 01:25
The social media company also took down 217,265 posts from Facebook driven by counterfeit claims, and 108,094 from Instagram . Sonderby added Facebook "carefully scrutinize" each request received for account data to ensure it's legally sufficient.

isis-killer-beheading-video-story-top Japan to Expand Ballistic Missile Defense With Ground-Based Aegis Batteries
Dec 20, 2017 - 01:25
THAAD's coverage area is smaller than Aegis Ashore and it would require more units to cover Japan, defense officials said. Japan already has two layers of missile defenses, including Aegis-equipped ships and land-based Patriot batteries.

isis-killer-beheading-video-story-top Shopian gunfight, lady killed during clashes
Dec 20, 2017 - 01:20
A 25-year old mother of an eight month old girl was allegedly killed in the crossfire between ultras and forces on December 11. Security forces used explosives to blast the house in which the militants were holed up.

isis-killer-beheading-video-story-top Gas prices continue to decline in Chattanooga
Dec 20, 2017 - 01:19
It was also just before Labor Day weekend, as Florida residents kept their eyes peeled on Hurricane Irma's forecast path. Motor club AAA lists a national average retail price of $2.41 for a gallon of regular unleaded gasoline as of Tuesday.

isis-killer-beheading-video-story-top Lady Gaga heads for Las Vegas concert residency
Dec 20, 2017 - 01:17
It has been a life-long dream of mine to play Las Vegas ", Gaga said in a news release . There's no word yet on when tickets will go on sale or the price point.