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Bitcoin plunges after marketplace indefinitely halts withdrawals

11
Feb
2014

By Sam Forgione NEW YORK (Reuters) – The price of the digital currency bitcoin slid to its lowest level in nearly two months on Monday after bitcoin digital marketplace Mt. Gox said a halt on withdrawals it announced on Friday would continue indefinitely after it detected unusual activity. The bitcoin price varied dramatically from one exchange to another, with Tokyo-based Mt. Gox, the best known operator of a bitcoin digital marketplace, recording one of the biggest drops for the day. This technical issue is of a much larger intensity than weve seen in the past, said Sebastien Galy, currency strategist at Societe Generale in New York. More recently, the digital currency has drawn increased scrutiny. TRANSACTIONS COULD BE ALTERED The bitcoin price started falling fast on Friday when Mt. Gox said it was temporarily halting withdrawals due to unexplained technical issues.

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