Bitcoin recovers after Sunday flash-crash

The digital currency bitcoin saw its price fall by 15% in a selloff that played out Sunday night and ended in the early hours of the Asian trading day Monday.
Sunday’s sharp price drop marked one of the most significant declines in the digital currency since it shed $60 in one day back in mid-August.
In this instance, the currency lost $50, falling from about $340 to $290, before rising back to about $340, according to prices on the CoinDesk Bitcoin Price Index.
Why the sudden plunge? Market observers attribute the sudden volatility to a large sell order for 26,000 bitcoin that was placed on the Bitstamp exchange, according to a story on CoinDesk.

This post was published at Market Watch on October 6, 2014,.