Bitcoin plummeted after Tether, a start-up company offering dollar-supported digital tokens, said its systems had been hacked and about $ 30.95 million of its chips had been stolen.
Bitcoin, which is known for its strong fluctuations, tends to bounce back quickly.
Bitcoin has grown more than 700% this year, with three separate corrections of more than 25%, all of which have given way to subsequent rallies. At current prices, bitcoin has a total market capitalization of approximately $ 134 billion.
Recent volatility came from a slight rise in investors who turned to alternative cryptocurrencies, including Bitcoin Cash, which pushed it to record highs.
RE: BTCUSD - TECHNICAL ANALYSIS November 20, 2017 - Current Price $ 8214