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Bitcoin

Bitcoin selloff sees price plummet below $300

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By John Glenday, Reporter

October 6, 2014 | 1 min read

A Bitcoin selloff has seen the value of the putative digital currency briefly slip below the key $300 mark, just a fortnight after it fell below $400, before recovering slightly $326 as of this morning.

The yo-yoing performance comes despite growing acceptance of the crypto-currency by retailers, notably PayPal, which recently pledged its support to the currency.

Nevertheless market volatility continues to play havoc with its valuation with investors nervous that further declines could resume in the days ahead whilst others pin their hopes on a rise in transactions driving up its unit price.

Bitcoin advocates will thus be keeping a nervous eye on the performance of the currency to see what direction of travel it adopts from here.

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