Author Topic: Bitcoin plunges—now down 42 percent from December peak  (Read 283 times)

ilconsiglliere

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ArnoldW2

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Re: Bitcoin plunges—now down 42 percent from December peak
« Reply #1 on: January 16, 2018, 06:04:52 pm »
I think it's just the warm-up, for the reasons I wrote about in an earlier message thread:
     http://www.computerconsultantsforum.com/forum/discussions/bitcoins-fourth-big-crash-is-now-in-progress/

Before I posted this message, I checked the price charts at three different web sites.  I was really surprised at how different they are.  Here are the specifics:

Chart URL
    Dec 2017 High    Jan 16 2018 Price    Percent Decline
www.buybitcoinworldwide.com/price/
$19,343.04
$11,348.02
41.3
99bitcoins.com/price-chart-history/
$19,498.63
$12,268.10
37.0
charts.bitcoin.com/chart/price/
$19,191.50
$13,571.79
29.3

More evidence that the crypto-currency business doesn't yet have its act together.

ArnoldW2

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I just ran across more crypto-currency articles
« Reply #2 on: January 16, 2018, 07:30:25 pm »

CRYPTO INSIDER: Everything is getting smoked

http://markets.businessinsider.com/currencies/news/bitcoin-cryptocurrencies-today-january-16-2018-1-1013113527



Litecoin has lost half its value since the creator sold all of his stake

The cryptocurrency, created by former Coinbase engineer Charlie Lee in 2011 as a quicker alternative to the flagship bitcoin, was worth an all-time high of $365 as recently as December, according to Markets Insider data.

That price plunged by more than half to $178.

http://markets.businessinsider.com/currencies/news/litecoin-price-loses-half-its-value-since-creator-charlie-lee-sold-stake-2018-1-1013127468



Ripple’s XRP has lost 60% of its value in less than 2 weeks

The token hit an all-time high of $3.31 on January 4, according to Markets Insider data, before sliding 62% over the next 10 days to land at just $1.23 Tuesday afternoon.

http://markets.businessinsider.com/currencies/news/ripple-xrp-price-has-lost-60-of-its-value-in-less-than-2-weeks-2018-1-1013124805



Ethereum drops below $1,000 amid crypto bloodbath

The coin is down nearly 30% to $918.24.

http://markets.businessinsider.com/currencies/news/ethereum-price-drops-below-1000-amid-crypto-bloodbath-2018-1-1013127159

ilconsiglliere

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Re: Bitcoin plunges—now down 42 percent from December peak
« Reply #3 on: January 17, 2018, 03:22:03 am »
The question that I wonder is what is driving the meltdown. Is it the Feds, Wall Street or something else. Wall Street makes money no matter what - it goes up, down, whatever they make money.

If some of them get really cheap I may buy some as throw away money. You never know. I have missed the boat a bunch of times over the years - Microsoft, Cisco, Ebay, Amazon and of course Apple.

ArnoldW2

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Re: Bitcoin plunges—now down 42 percent from December peak
« Reply #4 on: January 17, 2018, 06:56:15 pm »
ilconsiglliere wrote:
Quote
I wonder is what is driving the meltdown. Is it the Feds, Wall Street or something else?

I'm not really sure.
Wall Street is a possibility, especially in view of their new crypto-currency futures.
The previous three price crashes of BitCoin were driven by owners selling out.  Wall Street wasn't involved then.

My best guess is that Wall Street and people selling are both driving the current crash.

I'm sure that the Federal Reserve currently views crypto-currencies as not big enough to worry about — yet.
They've taken no action — yet.

benali72

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Re: Bitcoin plunges—now down 42 percent from December peak
« Reply #5 on: January 24, 2018, 05:43:58 am »
The upshot of all this is that Bitcoin has shown it is not a good store of value. It's becoming strictly a speculators' playtoy.

unix

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Re: Bitcoin plunges—now down 42 percent from December peak
« Reply #6 on: January 25, 2018, 06:20:35 am »
Exactly.
Brawndo. It's got what plants crave.