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Bitcoin is on track for its worst first quarter ever with over $114 billion wiped off its value
CNBC ^ | 03-30-2018 | Arjun Kharpal

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 ...


TOPICS: Business/Economy
KEYWORDS: bitcoin
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1 posted on 03/31/2018 7:33:11 AM PDT by NRx
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To: NRx

Buy!


2 posted on 03/31/2018 7:39:11 AM PDT by Jonty30 (What Islam and secularism have in common is that they are both death cults.)
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To: NRx

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.


3 posted on 03/31/2018 7:42:05 AM PDT by Vermont Lt (Burn. It. Down.)
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To: NRx
I for the life of me can not understand how trading currency backed by a government that owns land and has the power to tax its’ citizens for a crypto-currency that is backed by nothing isn't working out?
4 posted on 03/31/2018 7:42:37 AM PDT by Jim from C-Town (The government is rarely benevolent, often malevolent and never benign!)
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To: NRx

If you check cryptocurrency value ,lots of them are a few dollars or pennies


5 posted on 03/31/2018 7:51:01 AM PDT by butlerweave
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To: NRx

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.


6 posted on 03/31/2018 7:56:51 AM PDT by I want the USA back (Lying Media: willing and eager allies of the hate-America left.)
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To: Jim from C-Town
I too could not understand bitcoin until I watched a YouTube video recently and now it all makes sense.

JP Sears - Bitcoin

7 posted on 03/31/2018 8:05:40 AM PDT by Dutch Boy
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To: NRx

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


8 posted on 03/31/2018 8:14:11 AM PDT by Southern Magnolia
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To: Jim from C-Town
That’s funny 😆. That is such a Ponzi scheme, but nowhere near the likes of social security.
9 posted on 03/31/2018 8:14:48 AM PDT by BillyCuccio (MAGA)
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To: Dutch Boy

Ha,Ha, that was funny, thanks for that.


10 posted on 03/31/2018 8:16:16 AM PDT by crosdaddy
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To: NRx

11 posted on 03/31/2018 8:25:17 AM PDT by jiggyboy (Ten percent of poll respondents are either lying or insane)
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To: NRx
it was never designed as an investment but a means of covert financial transactions
12 posted on 03/31/2018 8:30:02 AM PDT by Chode (You have all of the resources you are going to have. Abandon your illusions and plan accordingly.)
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To: NRx

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.


13 posted on 03/31/2018 8:36:40 AM PDT by SaxxonWoods (DACA is going to be a riot!)
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To: Dutch Boy

ROFL I’m saving that.


14 posted on 03/31/2018 8:54:46 AM PDT by NRx (A man of integrity passes his father's civilization to his son, without selling it off to strangers.)
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To: NRx

I don’t want to sound like I just came in on a load of Zucchini but what the hell is a Bitcoin?


15 posted on 03/31/2018 9:07:30 AM PDT by Rappini (Compromise has its place. It's called second.)
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To: NRx

Buy the rumor, sell the news.
Anyone who understands Bitcoin knows that this is its natural cycle.


16 posted on 03/31/2018 9:48:30 AM PDT by George Rand (-- I can't befriend liberals because I won't befriend ignorance --)
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To: Rappini
what the hell is a Bitcoin?

Made up electronic "money", created by a hacker, backed by nothing, and used by criminals to hide and launder their illegal activities.

17 posted on 03/31/2018 9:49:33 AM PDT by PAR35
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To: NRx

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.


18 posted on 03/31/2018 10:36:42 AM PDT by jjw
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To: NRx

not to worry. it’ll double again in a few weeks, then halved again a few weeks after that, and so on ...


19 posted on 03/31/2018 11:50:46 AM PDT by catnipman ( Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: Rappini

“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.


20 posted on 03/31/2018 11:57:29 AM PDT by catnipman ( Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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