Below $5K: Bitcoin Drops $500 to Set New 2018 Low

Coin Desk ^ | November 19, 2018 | Sam Ouimet

[C19fan]

Bitcoin dropped below $5,000 for the first time in over 13 months on Monday.

CoinDesk price data reveals the world’s largest cryptocurrency by market capitalization fell to $4,981 shortly after 16:30 UTC on Monday, signifying a dollar-decline of more than $500 for the day when the move occurred.

That’s the lowest figure since Oct. 12, 2017, and as of press time, the price has recovered somewhat to $5,048 – still signifying a decline of more than 9 percent.

The broader cryptocurrency market accompanied BTC in its steep sell-off and has shed more than $15 billion in total market capitalization in the last 24 hours.

[C19fan]

How many people got in when Bitcopin hit $20 K per "coin"?

[Yo-Yo]

BUYING OPPORTUNITY!!!!!!!!

[Rumierules]

$18.5K here.

[MIchaelTArchangel]

Are you sure the name is Bitcoin? It seems more like its name is Baitcoin.

[cuban leaf]

Is it too late to short it? :-D

[867V309]

BUYING OPPORTUNITY!!!!!!!!

you bet! I'm selling my 19k coin for only 10k today! that's nearly half price!       guaranteed shiny.

[P-Marlowe]

What is it’s actual value?

[alloysteel]

Mercurial money.

The surest way for a supposed “store of value” to diminish, undervalue, lessen, depress, devalue, lower, reduce its appeal, or even go flat busted is for it to be touted by those who have a fairly large position in holdings.

Look at the occasional attempts to “corner the market” on something like silver, which has the advantage of being a real, tangible commodity.

Bitcoin is - dreams and clouds floating in the sky.

[amorphous]

And silver is down 70% from its high in 2011, while the number of dollars doubled. Seems the free market is no longer free, instead manipulated beyond reason.

[amorphous]

The currency of the 1%:

[Vermont Lt]

Better yet, how many got in at $83?

[10mm]

Dunning-Krugerrands

[amorphous]

S&P 500 as of today @ 4:13pm ET 2,690.73.

[Baynative]

I've got a special deal for you.
I can get you a coin that is actually
just like money. It's not in a bank
where you can get it, no one knows what
it will be worth tomorrow, how to
make change from it, or even where
your money goes when you buy one.

But, it's gonna be big, I tell ya.

[Kriggerel]

I prefer the more inventive term: “Dunning-Krugerrands”. :P

[DugwayDuke]

Last year a poster on one of the cruise related websites announced his plan to get a ‘free cruise’ by investing $5000 in Bitcoin. He stated his $5000 would double by this time this year allowing him to sell his bitcoin for $10,000 returning his $5000 and providing another $5000 to pay for his cruise.

[Pollard]

Can’t see it. Can’t touch it. Ain’t real.

[golux]

Can someone tell me what is happening with the Bitcoin WND was pitching?

[DownInFlames]

At $500

[Oscar in Batangas]

If it keeps this pace up, it won’t be worth the paper it’s printed on pretty soon.
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Oh, wait