The current Bitcoin price is $389.00. The all time Bitcoin peak price was just over $1,200. Anybody that knows anything about technical trading knows that this is one sad chart.
Thursday, April 10, 2014
Bitcoin Breaks Under $400
Bitcoin prices are diving after Chinese banks overnight sent out notices to local bitcoin exchanges announcing that their accounts would be frozen on April 15, in effect cutting them off from accepting yuan-denominated assets.
The current Bitcoin price is $389.00. The all time Bitcoin peak price was just over $1,200. Anybody that knows anything about technical trading knows that this is one sad chart.
The current Bitcoin price is $389.00. The all time Bitcoin peak price was just over $1,200. Anybody that knows anything about technical trading knows that this is one sad chart.
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Possibly it is time to review Mr. Tucker's the-sky-is-the-limit prognostications. That was so harmful to those that listened to him and so irresponsible that it made my teeth hurt.
ReplyDeleteMr. Tucker is on the Bitcoin Speaking circuit these days, bow tie and all.
DeleteA congressman purchased Bitcoin a couple of days ago for around $486/BTC. At this posting, BTC is trading around $379/BTC. Since according to the IRS BTC is property, wonder if they allow taking capital losses?
Also, one would think if the fiat financial markets and economies tank, this will not bode well for BTC either, as typically emerging asset classes get creamed.
indeed!
ReplyDeleteGary North was spot on the entire time.
ReplyDeleteThat remains to be seen, and certainly we can't chalk it up to Gary's understanding of Bitcoin, as his coverage of Bitcoin has been replete with factual errors and misunderstandings not only of the technical aspects but of the aspects relevant for economic analysis (as have Wenzel's). The fact that, in the short term, prices have fallen in the face of regime uncertainty and particular infrastructure problems (external factors), is no basis whatsoever for broader implications about the future of Bitcoin or other cryptocurrencies.
DeleteRegime uncertainty? What uncertainty? They will do every thing possible to eliminate bitcoin or reduce it to a different type of money transfer platform, replete with forced chargebacks and fees necessary to pay for gov't dictated compliance costs
DeleteToday is the anniversary of the 1st 2013 Bitcoin bubble. Even if you bought at that "bubble" high, you are still up 50% on the year. Did any of you make that good of an investment last year? How can you anti-bitcoin people seriously being doing victory laps right now?
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