Bitcoin Crashes 21%

December 6, 2013 2:30 PM EST Send to a Friend
Bitcoin is down 21% in the past 12-hours. The virtual currency last traded at $875, after reaching an all-time high of $1240 a few short days ago.

Moments ago it was reported that Baidu.com (Nasdaq: BIDU) said it is suspending bitcoin payment acceptance due to value fluctuations.

In his report yesterday, David Woo, FX and Rates Strategist at Bank of America Merrill Lynch, said that Baidu.com's acceptance was one of his reasons to like Bitcoin.



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