Bitcoin's Biggest Crash Ever Happened Today And It Nosedived More Than 80% In A Matter Of Seconds | Exploring Markets

Bitcoin's Biggest Crash Ever Happened Today And It Nosedived More Than 80% In A Matter Of Seconds

On Monday, February 10, 2014 the famous digital currency, Bitcoin, experienced its biggest single drop ever.

It was a complete flash crash.

The price of Bitcoin went from $600 to $100 in just several seconds. 

Why did this happen? Many attributed the fall to a culmination of bad events including a glitch at the largest Bitcoin exchange (Mt. Gox), news Russia was going to ban the crypto currency, and also rumors the U.S. government was in the process of making more Bitcoin related arrests.

Here's a chart that shows how extreme the drop was: