Evil Avatar  



Go Back   Evil Avatar > Geek Love > Totally Off Topic

» Sponsored Links


» Recent Threads
First Trailer for...
Last post by MadMurdock_0311
Today 01:25 PM
10 Replies, 785 Views
Capcom Shutters Dead...
Last post by MadMurdock_0311
Today 01:21 PM
3 Replies, 450 Views
Introducing the...
Last post by MadMurdock_0311
Today 01:20 PM
11 Replies, 499 Views
Picts - Waiting to...
Last post by PacerDawn
Today 12:46 PM
18,149 Replies, 2,899,299 Views
Ace Combat 7 Pre-Order...
Last post by LostToys
Today 11:24 AM
6 Replies, 427 Views
Liberals gone wild
Last post by Whimbrel
Today 10:57 AM
2,418 Replies, 294,468 Views
The Predator Becomes...
Last post by Chief Smash
Today 05:10 AM
29 Replies, 1,867 Views
Resonance of Fate 4K /...
Last post by Evil Avatar
Yesterday 08:45 PM
0 Replies, 349 Views
Reply
 
Thread Tools
Old 12-22-2017, 01:58 PM   #1
Emabulator
The Voight-Kampff
 
Emabulator's Avatar
 
Join Date: Feb 2005
Location: The Garden State
Posts: 31,116
Blog Entries: 58
Bitcoin crashed hard today, almost every other cryptocurrency suffers as well


Yahoo! Finance has the story.

Quote:
Bitcoin has been on a tear this past year with the value of the cryptocurrency jumping from $8,000 to nearly $20,000. Well that run hit an abrupt end today as the price crashed as much as 23 percent on Coinbase. The price briefly dipped below $12,000 on some exchanges at around 7:30 am London time.

The drop -- which wiped more than $4,000 from the value of bitcoin at one point -- was the highest percentage loss of value that bitcoin has seen this year. The cryptocurrency was valued at just $998 on January 1 2017 and it soared to a record high of nearly $20,000 on some exchanges earlier this week.
Emabulator is offline   Reply With Quote
Old 12-22-2017, 03:59 PM   #2
vallor
Michael Bay Fanboi
 
Join Date: Oct 2005
Location: San Diego, California
Posts: 7,092
It was a pretty gross drop but ratio-wise it isn't unprecedented. Remember a few years ago it went from $400 to $1200 in a 30-ish day period (actually about this time of the year too) before crashing down.

What is unique is the skyrocketing value doubling->doubling->doubling we saw since August.

And where bitcoin goes the whole crypto-market goes. However it's stabilizing and has been flirting with $15-$16k as people are snapping up "cheap" coins on a pretty active market.

Last weekend I thought it was going to drop over the weekend from $17k but it soared to over $19k. We'll see if that happens this weekend.

It's a fun game but the thing about Crypto, at least IMO, is it is a game to watch at the macro level.
vallor is offline   Reply With Quote
Reply

Tags
bitcoin

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -7. The time now is 03:25 PM.