Did the Bitcoin Bubble Burst on Wednesday?
A growing number of investors and financiers have begun to warn about the possibility that bitcoin has entered bubble territory. As a result, when the price of bitcoin fell abruptly on Wednesday, it would have been tempting to conclude that they were right.
Bitcoin opened the day at $9,908. It then spent the morning climbing higher before topping out at $11,377. However, over the next few hours, it plummeted, dropping to $9,290, an 18% fall. By the end of the day, the cryptocurrency had recovered to $10,230.
Data source: Coindesk.com.
Source: Fool.com
