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December 8, 2017

Bitcoin soars then falls as banks raise risk concerns

  • The swings in price occurred as the trading community prepares for the virtual currency to start trading on two established U.S. exchanges.
    • By KEN SWEET
    AP Business Writer

    NEW YORK — The price of bitcoin swung wildly Thursday, rising to more than $19,000 only to fall sharply within minutes, as both the euphoria and anxiety surrounding the virtual currency escalated just days before it starts trading on a major U.S. exchange.

    At 3:25 p.m. EST, bitcoin was valued at $15,930, according to Coinbase, after briefly surging above $19,000 Thursday morning. At the start of the year, one bitcoin was worth less than $1,000.


     
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