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BITCOIN TOUCHES $220 ON MTGOX AFTER HORRIFIC 60% PRICE CRASH

Sam RoFeb 17, 2014, 04:09 IST

Bitcoin is currently trading at near $250, according to Bitcoin exchange MtGox.

It got as low as $220.29 from a high of $540.

Once the largest platform for trading Bitcoin, MtGox recently halted withdrawals, which exacerbated people's fears about having their wealth in the digital currency.

"Prices remain volatile and market illiquidity high," said Boston University finance professor Mark Richards."If Bitcoin currency and infrastructure are unstable, it is increasingly dangerous to subject the global economy to such market risk uncertainty. The longer the virtual currency economy is allowed to grow unchecked, the greater the chance of adverse economic impact."

Clark Moody