— and now it's plunging
...............................................................................................................................................................
The bitcoin rally looks like it's finally running out of steam.
The cryptocurrency blew past $2,500 and nearly touched $2,800 for the first time on Thursday, before giving all the gains back.
It hit a high of $2,799, up $360, before surrendering its gains. The cryptocurrency is now trading down 9.2% at $2,230 a coin. It has gained in 26 of the past 29 sessions, tacking on more than 107% over that time.
Bitcoin had climbed as much as 25% since Tuesday's close, propelled by news that the Digital Currency Group, representing 56 companies in 21 countries, reached a scaling agreement at the Consensus 2017 conference in New York.
more