Visitors Now:
Total Visits:
Total Stories:
Profile image
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Bitcoin price craters as panic selloff claims 75% loss from bubble high

Friday, April 12, 2013 18:09
% of readers think this story is Fact. Add your two cents.

(Before It's News)

by Mike Adams, Natural News:

The bitcoin selloff that began less than 24 hours after I predicted a “disastrous bitcoin crash” has now plummeted nearly 75% from Wednesday’s bitcoin high of $266, wiping out over $1.5 billion in valuation for the crypto currency.

As bitcoin skyrocketed in value, I saw unmistakable signs of “irrational exhuberance” kicking in, with bitcoin hypsters starting to talk more like charlatans and cult members than rational investors. So I published an urgent warning and repeated the same warning live on national radio.

The very next day, bitcoin cratered from $266 to $105. Self-deluded bitcoin cultists called this “50% off Wednesdays” and urged everyone to “buy and hold.” (Because that’s how the con works.)

But the selloff had already picked up steam, and while Thursday saw some support around the $110 – $120 level, by Friday morning the bitcoin bubble accelerated its downfall, plummeting to $61.11, a loss of over 75% from its high.

Read More @ NaturalNews.com



Source:

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Total 1 comment
  • Gold and Silver also plummeted… are they a con too?

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.