Trading in the anonymous digital currency bitcoin was down 15.1 percent at $768 a coin as of Wednesday afternoon. It was back up to $811 Friday morning but the instability comes after China announced it had begun investigating the bitcoin exchanges on suspicion of market manipulation.
Bitcoin has become the most popular payment processing platform used by the North American-facing online gambling sector. Operators continue to monitor this situation but remain relatively unfazed based on Gambling911.com conversations.
Bitcoin started 2017 with a 120 percent gain over 2016, crossing the $1000 mark for the first time since November 2013.
Bitcoin is now down more than 17% in 2017.
- Aaron Goldstein, Gambling911.com