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Bitcoin plummets below $1,500

Rejected submission by Anonymous Coward at 2017-05-05 17:38:44

The wild swings in bitcoin continue.

The cryptocurrency rallied 9% to an all-time high above $1,652 a coin on Thursday morning, but has given up virtually all of those gains over the past hour. Bitcoin now trades up 1.5% at $1,537.41 a coin. It plummeted as low as $1,498 after putting in its record high.

Bitcoin's volatility comes as traders continue to wait on the US Securities and Exchange Comission's ruling on whether or not it will reverse its decision to the reject the Winklevoss ETF. A decision is due by May 15.

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