Bitcoin wild swings drop price 50% from $900 high

MADRID (MarketWatch) — Sellers stepped up the pressure on bitcoin Wednesday, pushing prices down to just under $460 amid heavy volume. Wild price swings continued for a second day with bitcoin showing a high so far of $748 and a low of $460. The price of bitcoin is now nearly 50% down from its $900 high reached on Tuesday. The New Jersey attorney general’s office said Tuesday that online video game group E-Sports Entertainment LLC has agreed to pay $1 million in a settlement over bitcoin mining. The suit alleges E-Sports “infected thousands of personal computers with malicious software code” allowing the company to “monitor what programs subscribers were running and illegally mine for bitcoins. The company is estimated to have generated around $3,500 by mining for bitcoins, taking control of 14,000 computers across the U.S., including New Jersey.

Bitcoin Realtime: http://bitcoinity.org/markets/bitstamp/USD