Holy sh*@: Bitcoin drops 50% in last 24 hours

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The bubble was always going to burst, it had been going up consistently for years.

However the Bitcoin market is so volatile i wouldn't be surprised if it went back up tomorrow.
 
This is shocking news for me,as I wanted to invest in cryptocurrencies
 
TheUnborn said:
This is shocking news for me,as I wanted to invest in cryptocurrencies
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Man, I went out for lunch, when I came back it was a catastrophe...glad I don't hold any positions in BC's, but I also planned on investing....
 
Man it do not look good. Well i guess it is the right time to buy bitcoin.
 
Did something happen to trigger this? Anyways its going back up, its at $600 right now im sure by tomorrow it will be back around $800-$1000
 
loclhero said:
You can thank China. Anyone that has the balls (or toss away cash) to get in on BC at this point is crazy. It might wind up as a valued alt-currency some day but nowhere soon

http://www.nytimes.com/2013/12/19/b...nminbi-deposits.html?hpw&rref=technology&_r=0
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Aaaaand there's our culprit.

No surprise there. A closed system like China must fear a free digital currency like the plague. Secret, anonymous transactions means big trouble for the centralized economy of China...
 
Damn... the top post on r/bitcoin is the USA Suicide Hotline number...
Things are THIS bad?
 
One of the biggest ecommerce websites in China stopped accepting it a few days.... it was bound to happen.
 
its a pump and dump scheme at the moment .. so your going to get this volatility .. but I'm pretty sure people will still buy it when the price drops because they still see some value in it.

unregulated though always means - don't bet the farm on it
 
This is absolutely nothing & actually is a dream scenario for those of us who have seen the coin flail around since the first bubble popped at $30.

China has no balls. Or maybe just half of one. What else did you expect from a communist government though? I do feel for the general Chinese populace.

The numbers will tilt in the favor of Earth's inhabitants eventually. The ruling elite shall not persist forever. It's an ebb & flow kind of deal.
 
What a big turn around. Wonder if/when it's likely to recover?
 
loclhero said:
You can thank China. Anyone that has the balls (or toss away cash) to get in on BC at this point is crazy. It might wind up as a valued alt-currency some day but nowhere soon

http://www.nytimes.com/2013/12/19/b...nminbi-deposits.html?hpw&rref=technology&_r=0
Click to expand...

This week is the best time to get in if your smart. bitcoin is nowhere near dead, if anything, after this crash you will see new players entering the market because of the low price at time of entry. The development and start ups around the bitcoin space are at an all time high right now. Even if the price is low. If anything, the big players would not want to enter while Bitcoin was peaking in price. Now they have a great opportunity to.

The price is significantly higher than the start of this rally which started at about $300. At the time of post it is $561
 
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