The Bitcoin Crash Continues

Matthew Boesler

Yesterday, Bitcoin hit an all-time high of $266. Then, it crashed as much as 61 percent before rebounding back to levels around $150 late last night.

The low of the day yesterday was $105. This morning already, the market is getting close to those lows again. Bitcoin is now trading at $120.

As the volume panel at the bottom of the chart shows, there was a large spike in selling activity this morning, sending the the virtual currencty on its latest leg lower.

bitcoin.clarkmoody.com

Note: There is no x-axis on this chart, but it shows prices from April 9 through today.

Mt. Gox, the world's biggest Bitcoin exchange, blamed yesterday's sell-off on a trading lag that was caused by the rush of new users to the system in recent days.

It will be interesting to see if prices continue to head lower today.



More From Business Insider