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Bitcoin Slumps Just Hours After Topping $11,000 Milestone

TedTed
in Fund Discussions
FYI: Bitcoin exhibited its trademark volatility Wednesday, plunging back toward $9,000 just hours after topping the $11,000 milestone for the first time.

A single bitcoin BTCUSD, -0.94% changed hands in recent action at $9,428.54, according to tracking site CoinDesk, a decline of 4.1% from Monday.

Earlier, bitcoin traded as high as $11,377.33. The move came just a day after the cryptocurrency hit $10,000 for the first time, adding to a rally that saw its year-to-date gains briefly exceed 1,000%. It’s still up sharply from its 2016 finish just below $1,000.
Regards,
Ted
https://www.marketwatch.com/story/bitcoin-within-touching-distance-of-11000-just-one-day-after-taking-out-10000-milestone-2017-11-29/print

Comments

  • MarkMark
    Aw shoot. I was hoping to pick up a couple hundred at $11.5K but I don't want them cheap ones.
  • ronorono
    Howdy folks,

    Anyone playing bitcoin? Other than setting up a wallet, how can it be played? Just curious?

    and so it goes,

    peace,

    rono
  • hank
    edited November 2017
    I guess Bloomberg recently suggested that the bitcoin craze is related to having “safety” during a potential “lights-out” period of global chaos. But that raises the question: With no electricity, how good is a digital currency?

    Not my original thought. Just listened to a podcast with Jim Grant and Bill Fleckenstein and they mentioned that point. I know - both of those guys have been “wrong” forever it seems. Fleck likes the miners and not much else. Thinks central banks will resume pumping again as soon as the equity markets slump. Afraid to short stocks for that reason.
  • rforno

    This chart from today's WSJ article on the bitcoin mania is truly staggering...

    image

    Full article (paywalled unless you know how)

    Bitcoin Mania: Even Grandma Wants In on the Action
    https://www.wsj.com/articles/bitcoin-mania-even-grandma-wants-in-on-the-action-1511996653
  • ron
    I don't want to know, hear, or have anything to do with it. CNBC must have an interest in sucking in those who want to play it.
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