Posted on 12/22/2017 2:00:42 AM PST by cba123
Cryptocurrency falls more than 30% in five days after troubled week but analysts say it could easily bounce back
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Bitcoin went into freefall on Friday, its price collapsing from the dizzying heights of nearly $20,000 (£14,965) earlier this week to about $13,000 after its year-end rally appeared to run out of steam.
According to the CoinDesk exchange, the cryptocurrency was trading at $13,155, a fall of over 30% in five days.
Its price has fallen by more than $2,000 in 12 hours.
(please see the link, for the full article)
(Excerpt) Read more at theguardian.com ...
The internet scammers know the better scammers are jumping in...
The problem with the bigger fool theory of investing is sooner or later the bigger fool doesn’t show up.
How could it go down? My shoeshine boy just told me to invest all my money in it.
It’s a speculative market, they’re ruled by speculation. A couple people decide the market is overvalued and CRASH. It don’t mean anything, just how they go.
I read that the main person just sold 100% of holdings. Now going to start another currency. This is all a scam. There is no basis beyond the paperwork.
That increased transaction load must be hard on the mining operations too right? Don’t the mining operations handle the transactions?
That’s why you Tiptoe Through the Tulips. And do an Irish Exit. If you make a loud, mad dash for the exit the whole herd is spooked and you might not get out in time.
When did that happen? And how are thy going to “take control of the bitcoin market”? Aren’t bitcoin transactions executed on the mining operation server farms? Is GS gong to set up a server farm for Bitcoin?
I think that “independent from government control” is a real stupid reason to get into bitcoin or any other cryptocurrency. It’s a fluff reason imagined up to get vulnerable people to buy.
I’m sure McFadden’s really pissed now...
Those that bought on margin are going to have a very fun Christmas when they get those margin calls.........
Bigger Fool investing... some folks never learn
It’s true - he just sold everything. All of his Bitcoins. That is making some people very nervous.
>That increased transaction load must be hard on the mining operations too right? Don’t the mining operations handle the transactions?
Mining operations handle the majority of transaction load and they’re the ones generally collecting the transaction fees. The fee cost is generally tied to power consumption required per transaction.
https://www.cnbc.com/2017/12/21/goldman-sachs-launching-trading-desk-for-bitcoin-report-says.html
“Goldman Sachs is planning to get into the business of trading digital currencies such as bitcoin...The new trading desk would “make markets” in the cryptocurrencies “
I’d be interested in your take on crypto’s.
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