1060°

Bitcoin Crashed Today

Huffington Post- Bitcoin's value plummeted today, by 25% from a high of over 1100 US dollars per BTC to a low value of under 830. The virtual currency, whose value has increased five-fold in just over one month, has been at risk of such a spectacular crash due to speculative investment in the now multibillion dollar market.

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huffingtonpost.com
Settler3792d ago

I'm wondering about that guy who took out a 30k loan to buy bitcoins?

The_KELRaTH3791d ago

I invested in Monopoly money and it's proving quite a stable investment :)

jerethdagryphon3790d ago

bit coin is moslty about speculation so you take the highs and the lows 300$ is hardly a crash

Speed-Racer3790d ago

The whole financial system is about speculation imo, but other markets are more established, so they'd less likely suffer from a fluctuation unless it's something major like 9/11.

Versability3790d ago

right? It's crashed to $800...what does that say about the dollar?

jerethdagryphon3790d ago

dont know but 1k was a bit high and a lot of people took advantage to sell, hence the drop

Speed-Racer3790d ago

@jereth - I wouldn't say that it was too high because humans can put value to anything (e.g. why is a US dollar worth a dollar yet a Monopoly dollar worth nothing?) but it grew way too fast. That alone was a sign that a dip was coming. If I owned bitcoins I would have sold at the $1,000 mark rather than being greedy.

80°

Why Crypto Idealogues Won’t Touch Bitcoin ETFs

The arrival of spot bitcoin ETFs in the US offers easy access to the masses. Purists will steer clear.

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90°

Bitcoin energy consumption falls sharply as prices drop

After plummeting in June, the price of Bitcoin has remained at such a low level that it is causing the

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techbriefly.com
60°

Bitcoin plummets to $23k as entire crypto market struggles

Inflation and expected interest rate hikes likely play a part in Bitcoin's dropping value.

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knowtechie.com