The price of bitcoin, the red-hot digital coin, was trading down 4.47% on Friday morning at $6,812 a coin.
bitcoinsmaster Since a plan to upgrade the coin’s network was called off, its price has experienced wild swings.
has been on a wild ride since a plan to help the red-hot coin scale was scraped.
Backers of the so-called Segwit2x proposal were considering to split from bitcoin’s main blockchain network, but power-brokers behind the plan called off their support for the upgrade on Wednesday
. That means the network will remain intact — at least for now.
Initially, the news sent bitcoin up near $7,900 per coin. Since then, however, it has tanked by nearly $1,100. On Friday morning bitcoin fell below $7,000, sliding to a low of $6,707.
It was trading down 4.47% at $6,812 at 10:23 AM EST, according to data from Markets Insider.