Bitcoin Price Falls 15% Amid Network 'Failure' Claims
The price of bitcoin declined sharply in global markets today, falling by 15%, according to the CoinDesk USD Bitcoin Price Index (BPI). Dollar-denominated markets hit a low of $372.73. BPI data shows that the declines began on Tuesday, accelerating as the week progressed. At press time, USD markets are reporting an average price of$371.45. The declines came amid a frenzied media response to the much-discussed exit of BitcoinJ developer Mike Hearn from the bitcoin project in which 30 media outlets seized on his claims the still-operating network had 'failed'. Today also saw claims from....
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Bitcoin critics like to claim its failure every time there is a major price drawdown, but a true representation of the network proves otherwise.
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