Well, short form: Nobody knows.
Long form: Nobody knows but there are plenty of possible causes for the fact Bitcoin dropped a quarter of its value and fell through to the $400 benchmark. Everything tied to the Bitcoin math similarly fell, although there’s no particular reason for it. Is it margin trading? Is it exchange hacks eroding confidence? Is it big banks getting in there and eviscerating the competition? Nobody knows. Hang tough or sell at a loss; those are your brutal choices and each must be made in a blind fog.
Prices via Cryptsy
Featured image via Jyrki Salmi on Flickr
Categories: Bitcoin, Crypto Currently, Cryptocurrency, Dogecoin, Litecoin, Money, News
Well, tell us what you think!