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Bitcoin Plunges As `Sharks' Circle In Key Test Of Cryptocurrency

TedTed
in Fund Discussions
FYI: Bitcoin’s plunge extended to almost 30 percent Friday as the frenzy surrounding digital currencies faced one of its biggest tests yet.

The world’s largest cryptocurrency approached $10,000 as this week’s selloff entered a fourth day with increasing momentum. It touched a record high $19,511 on Monday. Other cryptocurrencies also tumbled, ethereum dropped as much as 36 percent and litecoin slumped as much as 43 percent, according to composite prices on Bloomberg.
Regards,
Ted
https://www.fa-mag.com/news/bitcoin-plunges-as--sharks--circle-in-key-test-of-cryptocurrency-36334.html?print

Comments

  • MikeMMikeM
    Bears cast doubt on the value of the virtual assets, with UBS Group AG this week calling bitcoin the “biggest speculative bubble in history.” Bulls argue the technology is a game changer for the world of investment and finance.
    Thus the quandary. Personally, I think this is the future of finance though there will be a lot of adjustments in the form of rules and regulations, winners and losers, to get to a final product. Cryptocurrencies? Blockchain? All new to me, but I guarantee people who understand it will develop this industry.

    So will the bears be, in retrospect, the same people that ended up saying, man I wish I would have invested in Apple in '90s or Amazon in the 2000s? I'm going to guess yes. To many very large companies getting involved.

    If things drop more I may make a Vegas-Bet.
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