Bitcoin plunges almost 30% from record high

Bitcoin plunges almost 30% from record high

Bitcoin plunged 29% as the cancellation of a technology upgrade prompted some users to switch out of the cryptocurrency, spooking speculators who had profited from a more than 800% surge this year.

The cryptocurrency has dropped 9.5% since late Friday, extending its slide from last week’s record to as much as 29%, according to data compiled by Coinmarketcap.com and Bloomberg.

Bitcoin cash, a rival that split from the original bitcoin in August, has jumped nearly 40% since Friday.

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