Bitcoin Recovers From Sudden Selloff as Large Swings Persist - Bloomberg

*coin business as usual...

"Bitcoin held onto most of its gains from late Wednesday, easing concern that an abrupt selloff hours earlier might spiral into something deeper.

The digital currency, after rallying as much as 20 percent from its low yesterday, was down 4.3 percent at $9,755.66 at 12:14 p.m. in London Thursday, according to prices compiled by Bloomberg. It set record highs during the past three sessions.

The relative calm in the European afternoon ensued after a 21 percent intraday slump on Wednesday coincided with intermittent outages at cryptocurrency exchanges that stopped fluid trading. That came just hours after bitcoin had soared to a record of more than $11,000, and on the same day that Coinbase Inc., one of the world’s largest virtual currency exchanges, lost a bid to block an Internal Revenue Service probe into whether some of the company’s customers haven’t reported their cryptocurrency gains."

Bitcoin Recovers From Sudden Selloff as Large Swings Persist - Bloomberg