Bitcoin sell-off picks up steam

Bitcoin sell-off picks up steam
In this April 7, 2014, file photo, Bitcoin logos are displayed at the Inside Bitcoins conference and trade show in New York. A bitcoin sell-off that began at the beginning of the week is gaining momentum, with a quarter of its value evaporating in the past 24 hours. Just hours before U.S. markets opened Friday, Dec. 22, 2017, bitcoin was trading at $13,659.85, according to the tracking site CoinDesk. (AP Photo/Mark Lennihan, File)

A bitcoin sell-off that began at the beginning of the week is gaining momentum, with a quarter of its value evaporating in just the past 24 hours.

Shortly before U.S. markets opened Friday, bitcoin was trading at $13,659.85, according to the tracking site CoinDesk. The cost had soared close to $20,000 as of Sunday.

That is a radical price change in just one month. In mid-November, the bitcoin was trading at less than $6,000.

The cryptocurrency has been notoriously volatile, with a significant crash every quarter. Yet this week has been a particularly unstable, and could be biggest sell-off for bitcoin in years.


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Dec 22, 2017
Gee- who could have seen that coming?

Give it the old "pump-and-dump, and make mountains of cash, overnight.

Dec 24, 2017
I wondered if the bitcoin build up was to 'switch' the frenzy from the dollar to bitcoin. Just imagine what would have happened in a world without the alternative focus. OOps! a collapse of the dollarized stock market even with its protected algorithm. But with the built-up secondary, the dollar is protected. Who doesn't know that from Psy 101?

Dec 24, 2017
The Bitcoin price is soo sensitive, a guy sold his 100million dollar worth of Bitcoin and the price fell by a third of its value in 24 hour, also the Bitcoin exchange was also halted as tho it's some sort of malicious thing.

Dec 24, 2017
^^OPS... sorry wrong info. the guy above didn't sell Bitcoin, he sold Litecoin. Charlie Lee sold all his Litecoin just before the price of Bitcoin drop by third.... the 2 coin is probably unrelated because it's different currency. Sorry, I couldn't delete old post

Dec 24, 2017
What do you expect for a 'currency' that is mostly held and traded by drug lords, gangsters, and terrorists including Daesh

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