A Rival Bitcoin Was Just Created From Within
In an effort to improve on bitcoin's transaction speed, a group has now created a new cryptocurrency — "bitcoin cash" — using bitcoin's data.LEARN MORE
Within 24 hours, the value of Bitcoin fell by about 20 percent.
Bitcoin is having another moment in the spotlight, but we still don't really know how the cryptocurrency is going to fare in the long-run.
On Wednesday, Bitcoin hit an all-time high of more than $11,000. By Thursday, it had fallen to around $9,000. That drop may seem like a lot, but the cryptocurrency started the year at a little under $1,000.
Bitcoin's volatility is very well-known by now. Experts say that's because the digital currency isn't well-regulated or widely traded by people with market experience. This also makes the value of Bitcoin difficult to determine.
But the cryptocurrency is clearly gaining ground — and attention. It came up during the White House press briefing Thursday, and press secretary Sarah Sanders said it was something the administration was "keeping an eye on."
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