Sell, Mortimer, Sell!
December 6, 2013 12:38 PM Subscribe
Bitcoin is crashing.
posted by charlie don't surf (296 comments total)
24 users marked this as a favorite
After reaching a peak of approximately $1150 USD per BTC yesterday, a panic selloff is happening now. The price has dropped below 800USD, a loss of over 30%, and may be lower by the time you read this. Or it could recover and go higher. You can watch realtime charts of the bubble bursting at The Genesis Block
and other BTC tracking sites.
The panic began when the government of China has banned banks from using Bitcoins
. China is the largest Bitcoin market and restrictions have a significant and unpredictable impact.
Bitcoin panic selloffs
have occurred before, but the price has recovered and increased nearly tenfold.Previously
on MeFi, discussion of security problems, and near the end, links to a hacker's theft of 96,000 BTC
and how to watch it being laundered around the internet by "tumbling."
This FPP is a followup, so discussion can continue. It was closed yesterday, just as the BTC situation started heating up. Hey this is my second FPP ever!