Litecoin prices fell 20% after a wave of new investors helped push the price above $100 yesterday (Nov. 29, 2017).
The price of Bitcoin also fell below $9,500 just a day after hitting an all-time high of $11,395. A dramatic sell-off across the entire cryptocurrency market shed more than $50 billion in total market capitalization.
The sharp downturn came shortly after two major exchanges reported a huge surge in traffic, which created a series of bugs and disabled trading across networks.
Joining in on the crusade against cryptocurrencies, economist Joseph Stiglitz argued that Bitcoin’s lack of oversight and potential use in illegal activities should draw greater regulatory scrutiny.