Analysis

Bitcoin Price Dives Overnight, Rebounding This Morning

Jayanand Sagar | October 24, 2013 | 1:09 pm
Analysis

Bitcoin Price Dives Overnight, Rebounding This Morning

Jayanand Sagar | October 24, 2013 | 1:09 pm

Bitcoin price dip 10-24-2013

If you were asleep last night — and let’s be honest, most of the population was — you probably missed what happened to the price of Bitcoin. It dived. The price per coin reached a low of $175USD at about 4AM Eastern Time at Mt. Gox, rebounding to a high of $211USD in the past three hours. What a ride!

Some saw the opportunity to scoop up extra coin during the dip, but it doesn’t appear as if this event caused a panic sell by any stretch, given the aforementioned rebound.

It is likely that those who took advantage of the dip were those in China, bringing that price right back up. It’s not where it was, but it’s going to be interesting to see where it goes from here.

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