Investing.com - Bitcoin prices fell below the USD500-level on the Tokyo-based Mt. Gox on Thursday, as traders shied away from the virtual currency amid ongoing concerns over withdrawal issues.
BTC/USD fell to a session low of USD479.92 on Mt. Gox, before trimming losses to trade at USD512.05 during U.S. morning hours, down 5.5%.
Tokyo-based Bitcoin exchange Mt. Gox was forced to halt all Bitcoin withdrawals late last week due to a technical issue, with the issue yet to be fully resolved.
Mt. Gox was once the world's largest Bitcoin trading exchange, with volume topping 1 million trades a day at its peak. It is now the third-largest Bitcoin exchange.
Meanwhile, sentiment remained jittery after the two largest Bitcoin-trading exchanges came under attack from hackers in the latest development to roil the virtual currency.
Slovenia-based Bitstamp said it halted customer withdrawals to deal with the issue on Tuesday night. BTC-e, which is based in Bulgaria, said it was also experiencing delays in crediting certain transactions.
The price of a Bitcoin last traded at USD654.35 on BitStamp, while prices on BTC-e traded at USD639.25. BitStamp is the world’s largest Bitcoin exchange, while BTC-e is the second-biggest.
According to the CoinDesk Bitcoin Price Index, which averages prices from the major exchanges, prices of the crypto-currency dipped 0.35% to hit USD646.15.
Bitcoin is digital cash for the internet and it is not backed by a government or central bank to regulate or issue it. It can be used to purchase goods and services from stores and online retailers.
Prices of the virtual currency soared to an all-time high of USD1,241.10 on November 29. It was trading at USD100 in early October.