Quote (Subzer0isGG @ Jan 17 2018 09:20am)
Dropping hard ? Havnt been following the bubble.
https://www.theverge.com/2018/1/17/16900448/bitcoin-drop-below-100000-half-peak-bitconnectQuote
Bitcoin dropped below $10,000 today, and it’s now worth just over half of its peak value. The cryptocurrency opened at $11,348, according to CoinDesk, and dropped over $1,600 to hit a low of $9,685, though it’s since recovered slightly and is currently trading at $9,702. Other cryptocurrencies like Ethereum, Ripple, Bitcoin Cash, Cardano, and Litecoin have also posted deep losses of between 30 to 40 percent, according to data from CoinMarketCap.
Bitcoin had a stellar year in 2017, starting at around $800 and steadily gaining value, before touching an all-time high of $19,783 on December 17th. The cryptocurrency’s price was buoyed as more and more investors poured money into the hype, with some even reportedly taking out mortgages for funds to invest. While there’s no immediate reason for today’s dip, bitcoin has been falling over the past week. Investor sentiment may have also been hit after Bitconnect, a platform for virtual currencies, announced it’s shutting down its exchange platform because of bad press, two cease and desist letters, and DDoS attacks. Bitconnect has also been accused of being a Ponzi scheme.
E: the very last sentence there is why I'm always skeptical about cryptos and why people who preach them as the future put me off. They are very volatile because lots of times you dont know if the company you're investing with is legit or might just "lose" all your bitcoins one day.
This post was edited by GSG on Jan 17 2018 10:26am