Thunder Bay – TECH – Bitcoin investors were hit with a drop in the cryptocurrency today as in a flash crash, the price fell to $59,000US a drop of $5000us.
Bitcoin is gaining increased credibility with companies and investors.
However many people still don’t fully understand the cryptocurrency.
Business market expert Forbes says, “The bitcoin price has added almost 400% since this time last year, climbing to over $60,000. However, bitcoin has fallen sharply over the last 24 hours, dropping under the closely-watched $60,000 level.
“Ahead of bitcoin’s price plummet, researchers found the cryptocurrency is still concentrated among a handful of holders, warning this makes ‘bitcoin susceptible to systemic risk’.”
