Nothing much? Given that Bitcoin may as well be called Money Laundering Made Easy it's amazing nobody has made a concerted effort to shut it down (or declare it contraband). Also, why would anyone invest in a completely unbacked and unregulated currency?
I know my graph reading skills are suspect, but that says it started at 600 and closed at 625. How is that a crash? I'n not a bit coin fan, but volatile trading and a crash are two very different things. Click on the 3 day or 7 day, and you'll see a different story. 7 days ago it was under 400, and now trading at 580.
over 24hrs thats some crazy upterm and downterm but it did technically close up for the day. anyone who sold at 900 peak must be happy. Those who brought bit coins last year for 20 and sold at 900 must be in happy land. 50x investment. Do not personally get the share or cash markets though so would not like to suggest how or why it fluxates so much and i dout its only because the chinese got intrested.
It is because of the Chinese : http://moneymorning.com/2013/11/18/why-bitcoin-prices-are-rising-so-quickly-and-will-keep-going/
Nothing especially new, Bitcoin has been hilariously volatile for ages. I've been virtually dabbling for a year or so and have made a virtual fortune, just haven't had the balls to pony up real funds on account of the ridiculous volatility.
If you think that's bad, you should look back at Zimbabwe's currency, lol. Currency markets are volatile and fickle. You have to have stones and a lot of knowledge to play that game. Bit coin is unbacked and unregulated, leaving it wide open to manipulations like this.
OP better stay away from stock and currency markets if you consider that to be crash, 24hrs chart All I can say about BTC is that as a currency it's too volatile, perfect for day-traders because of the huge intraday volatility, long term investment on BTC is way too risky. I've considered BTC as a investment, but currently I just don't have the ammount of risk-free money it needs to make few coins of profit. Also it needs constant monitoring as it's rolling 24/7. I wonder how many people actually pay taxes from the profits they make with BTC.
I should have put a question mark in the title - I was wondering if the huge increase would carry on or if it was starting to crash. today's update: I guess you could call it a bubble rather than a crash
Yes, it's more like a short-term bubble. If it plummets under 20 USD, you could say that it crashed, but anything near the white line is "normal", everything else on the last month or so is just crazy peak. Earlier this year BTC had a bubble, which was much bigger than the current one considering the base-value where it slowly started was about 20 USD and went to peak-high 270 USD, +1350% gain, and came back to around 120 USD and held it for longer term. So "only" ~600% gain (if considering that the bubble was just "noise"). Now we peaked from that ~120 USD level to ~900 USD which is "only" +750% gain, so not that big really when comparing to the history... And if the history repeates, the new long term level could be propably around 200-300 USD, but as BTC is not regulated and it has gained major volume, anything can happen. Bottom line, it's not crashing (yet...).
It's quite chilling to think that, since its primary uses are scams, fraud and money laundering*, those charts are kind of a graphical representation of how many people are being robbed and conned per day. I don't know why the law of one or more nations hasn't been on BTC's case to scrutinize its customers at least a little. Banks have responsibilities to make sure they're not accessories to crime; not sure why BTC is getting a free pass. *note: I don't actually know this for a fact, I'm just comfortable assuming it, since the only place I ever see BTC is as a payment method in ransomware and malware (and I see it there a lot).
All I know about bitcoin... Silkroad-drugs..gone. child porn...gone. Busted by fbi on the deep web. Sad times...jk.
I wish I had bought some when they were first announced! This bubble HAS to burst soon. I hate the idea of a virtual currency.
If one of the big currency leaders say we are not going to accept bit coins and ban them, Then bit coins will devalue so quickly they will be nearly worthless. China and USA are both investigating bit coin as we speak with reviews of it on going the future of bit coin could go either way. If its accepted then it will surely go higher, If its banned they could be made worthless.
