Bitcoin soars then falls back; banks raise risk concerns
NEW YORK — Even by bitcoin standards, Thursday was a wild ride.
With a few hours, the volatile digital currency surged above $19,000, dropped back below $16,000, and then see-sawed before settling in just above $17,000 late Thursday in the U.S. The wild swings happened just days before trading in bitcoin futures begins on a major U.S. exchange.
Major banks took notice, with three of the biggest saying they will either limit or not allow their clients access to the futures when trading begins next week on the Chicago Board Options Exchange.
The price of bitcoin fell back during Asia’s day Friday, dropping to $15,431.39 as of midnight EST (0500 GMT), according to large bitcoin exchange Coinbase. At the start of the year, one bitcoin was worth less than $1,000.