Bitcoin is trading down in the last 24 hours by more than 13% and has broken below $8,000 and is currently trading at $7975.00. In December it hit an all-time high of $19783.00. It is now down some 59.6% from its record high.
The latest decline began after Google announced it will ban all cryptocurrency-ads.
Further, Japan is expected to urge its G20 counterparts at a meeting next week to beef up efforts to prevent cryptocurrencies from being used for money laundering.
-Robert Wenzel
Woot! Bitcoin is only up (on a one year basis) 729%!
ReplyDeletehttps://www.coinbase.com/charts
I'm not a bitcoin fanboy and expect the state to smash it hard, but it would be pretty fun if it tries but can't.
ReplyDeleteWhen I look at the bitcoin price chart I can see the hype and the bubble, but I also see that the bottoms of the dips keep getting higher. Those huge dramatic peaks certainly smell like bubble, but those steadily rising dips may speak to a slower, but persistent, dynamic that is operating independent of the bubble. It's still just a stupid video game, but people used stupid cotton as money for 100+ years, who's to say the next money won't be just as stupid.