Cryptocurrencies
Bitcoin Surpasses $12,000 Then Tumbles as Volatility Returns
- Cryptocurrency reached highest level in almost a year
- Bitcoin fell almost $1,500 within about 30 minutes of trading
This article is for subscribers only.
Bitcoin is reminding investors of both its promise and peril in trading.
The world’s largest cryptocurrency surged to $12,112 in trading just after midnight New York time Sunday, its first foray above $12,000 since August 2019, according to pricing compiled by Bloomberg. But it plunged shortly thereafter -- 30 minutes after the high, it had dropped to $10,638. It was up 1.2% to $11,224 as of 8:41 a.m. Monday.