Bitcoin Price Drops By Half
Posted by: J. McMahon on 12/18/2013 05:04 AM
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BitCoin has been a big deal lately, and subject to many debates. Is it a new virtual currency that will one day replace gold? Or just simply another form of payment - a la PayPal - that can be kept very private and confidential? It doesn't really matter right now. People want it. Two weeks ago the People Banks of China banned the use of Bitcoin in financial transactions amid concerns it was being used for money laundering. Since then the value of a BitCoin has been cut in half from about $1200 USD to $600 USD -and it shows now sing of slowing.
Source: BitCoinCharts
Is this signalling the end of the Bitcoin era? Or is this simply a pause int he cycle as the world figures out what place Bitcoin has in the world? That said, when you have a shadow currency that the Goverments can't get their hands on.,monitor or tax.... My guess is that currencies days are limited.
Is this signalling the end of the Bitcoin era? Or is this simply a pause int he cycle as the world figures out what place Bitcoin has in the world? That said, when you have a shadow currency that the Goverments can't get their hands on.,monitor or tax.... My guess is that currencies days are limited.
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