Bitcoin's value was hammered following a pause in withdrawals by one major exchange.
After trading at around $850 this past week, the virtual currency fell both Thursday night and Friday morning and is now hovering at around $732, according to the CoinDesk Bitcoin Price Index. So what triggered the freefall?
MtGox, a major Bitcoin exchange, had announced that it was temporarily stopping all Bitcoin withdrawal requests in light of a technical issue in the withdrawal process. The process needed to be frozen for MtGox to fix the problem, according to a statement on its Web site:
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