Read? Bitcoin is not an investment we would advise, UBS chairman says
The decline followed reports that raised worries about increased regulation in India and potential price manipulation at a major exchange.
Fundstrat's Tom Lee, the only major Wall Street strategist to issue formal price targets on bitcoin, said two weeks ago that $9,000 is a "major low" for bitcoin and "the biggest buying opportunity in 2018."
The $9,000 to $10,000 price range has been a difficult one for bitcoin to break below since first topping $10,000 in late November.
Evelyn Cheng | @chengevelyn
Many dream of becoming millionaires from few thousands buck are "temporary" gone!
ReplyDeletePaper gain is NOT real and just a dream; and paper loss is sunk cost. In the end; many will just move on and never touch it again.
DeleteUntil we can use bitcoins to pay for our living expenses; it is still not currency yet.
ReplyDeleteGiven the recent profit racking season, the funds are seem to be channeling to somewhere else. While there is actually many ways for which BTC can be cashed out into fiat, being one that have personally tried it on multiple occassions, I believe that there’s more cashing in rather than the latter today.
ReplyDeleteBitcoin is speculative rich asset which doesn't provide cashflow.
ReplyDeleteWalau. Bitcoin crash like penny stock!
ReplyDelete[TOKYO] Bitcoin plunged 20 per cent to a three-month low on Tuesday, its latest sharp loss following a series of setbacks for the cryptocurrency that, with a collapse across global mainstream markets adding to the selling.
The virtual currency fell to US$6,190 for the first time since mid-November, according to Bloomberg News, and represents the latest hammering for a unit that saw a stratospheric 26-fold rise last year.
Tuesday's collapse comes just six weeks after bitcoin hit a record high of US$19,511, fuelled by a flood of speculators looking to make a quick buck, with warnings it could fall another 50 per cent.
Since those heady days the cryptomarket - which includes dozens of other units - has been pounded by news of crackdowns by governments including in China, Russia and South Korea, one of the biggest markets for the sector.
ReplyDeleteBitcoin falls below $6,000. But crypto trader says it's 'not dead'
Bitcoin fell below the $6,000 mark on Friday.
But crypto trader Brian Kelly reminds investors that a year ago bitcoin was priced around $2,500.
A combination of tax selloffs and exchange hacks have caused the declines.
Now nobody interested in bitcoin LOL.
DeleteStruggling to maintain $6K mark.
I think it will go down to $5.5K support over these 2-3 weeks ... together with volatile stock markets.