Bitcoin Plummets More Than 30 Percent in Less Than a Day<br />The value of Bitcoin, which has surged over the past year, plunged from Thursday to Friday, dropping more<br />than 30 percent from the high point a day earlier — and 40 percent from the peak earlier this month.<br />Even Coinbase, a San Francisco company that has become the primary place where ordinary Americans have purchased Bitcoin —<br />and one of the most highly regulated companies in the industry — has gone down at several points in recent weeks under the stress of all the new users.<br />The price was briefly below $12,000 on some exchanges, though it had regained some ground<br />and was hovering around $13,000 by midday in New York — still leaving Bitcoin up 1,200 percent from where it began the year.<br />Bitcoin’s stratospheric rise hit a major bump on Friday, causing panic among buyers<br />and the posting of suicide hotline numbers amid the current virtual currency mania.
