Posted on 03/31/2018 7:33:11 AM PDT by NRx
Bitcoin is having a terrible first quarter, in fact the worst its ever seen.
The price of the cryptocurrency has fallen from $13,412.44 on January 1 to $7,266.07 on March 30, marking a more than 45 percent decline, according to data from CoinDesk, a site which tracks the price of different digital coins. The quarter ends on Saturday.
So far this quarter, $114.9 billion of market capitalization or value has been wiped off of bitcoin.
The price decline this quarter is the biggest first quarter decline in bitcoin's history. The previous biggest decline was a near 38 percent fall in the price in the first quarter of 2014, according to data from CoinDesk. It tracks the price of bitcoin back to the middle of 2010.
CNBC looked at bitcoin's price performance in the first quarters of each year beginning in 2011. Bitcoin has recorded a decline in 5 of the 8 first quarters tracked, which includes the current 2018 Q1.
The biggest price rise was a 599 percent surge in the price of bitcoin in the first quarter of 2013.
Bitcoin saw a huge run up in price in 2017 and hit a record high above $19,000 towards the end of last year.
But it has faced tougher regulatory scrutiny in 2018 and some of the air has come out of the market.
At a G-20 meeting this month, Argentina's central bank governor outlined a summer deadline for members to have "specific recommendations on what to do" and said task forces are working to submit proposals by July. Italy's central bank leader told reporters after the meeting in Buenos Aires, Argentina, that cryptocurrencies pose risks but should not be banned, according to Reuters.
(Excerpt) Read more at cnbc.com ...
Buy!
It’s happened before.
It will happen again.
What until tax season is upon us. You will see massive selling to cover last year’s capital gains.
If you check cryptocurrency value ,lots of them are a few dollars or pennies
Nothing was wiped off its value. Change it to “potential value.” There is no value until you actually exchange it for money. Then you know its value.
The quoted “values” are the prices of the latest transactions. Someone got that value, but there is no guarantee you’ll get that value when you sell.
It’s speculation, not investment. And it’s not currency.
Found this under a news story titled “Bitcoin Could Become Illegal Almost Everywhere”
“A Quantitative Analysis of the Impact of Arbitrary Blockchain Content on Bitcoin” (it’s a pdf under Session 9)
talks about all sorts of nasty data in the system.
https://fc18.ifca.ai/program.html
Ha,Ha, that was funny, thanks for that.
it was never designed as an investment but a means of covert financial transactions
Many bitcoin lovers have been predicting a massive stock market crash.
Wrong crash happened, for them.
This is the part where they all claim they bought at $200, so who cares.
ROFL I’m saving that.
I don’t want to sound like I just came in on a load of Zucchini but what the hell is a Bitcoin?
Buy the rumor, sell the news.
Anyone who understands Bitcoin knows that this is its natural cycle.
Made up electronic "money", created by a hacker, backed by nothing, and used by criminals to hide and launder their illegal activities.
it’s disappointing to see a forum full of supposed freedom loving people trash an alternative to government money. I suppose you’re gonna start picking on the gold bugs next.
not to worry. it’ll double again in a few weeks, then halved again a few weeks after that, and so on ...
“I don’t want to sound like I just came in on a load of Zucchini but what the hell is a Bitcoin?”
don’t worry about it. Bitcoin is nothing. Literally.
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