Bitcoin’s hasty retreat from $50,000 in the wake of El Salvador’s widely publicized move to allow the digital coin to be used as legal tender left many in the marketplace scratching their heads.
In whipsaw trading on Wednesday, Bitcoin (BTC) was down by nearly 2% on the day, though off its steepest declines of the day. Since hitting its Mid-July low of $29,000, Bitcoin has rallied, hitting nearly $53,000 early Tuesday morning before plummeting to a low of $45,000.
As investors mulled a “flash…
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