Bitcoin Having a Huge Sell Off, Here’s Why
Like this? Share it.
Today was a tough day for Bitcoin. Here’s what happened.
The People’s Bank of China issued a notice restricting banks from handling Bitcoin. Baidu also stopped accepting Bitcoin.
There was a big sell-off that made the price fall from $1100 to $650 in an hour or two. Some people sold in a panic, accelerating the drop.
Others bought on the way down. Seems to have bottomed out in the low $600s and holding but we’ll see.
Many investors predict Bitcoin will climb back to $2000 by year end/ early next year, maybe more.
Like this? Share it.
[…] there are 1.9 million Bitcoin in these addresses, or about $2 billion of value ($1.4 billion after last night’s sell off). And it’s highly likely that this money is unrecoverable. That’s 16% of the total […]
[…] Bitcoin Having a Huge Sell Off, Here’s Why […]