Bitcoin crashes to $3750 (-10%) while the US debt surpasses $20 trillion
Today is the first day Bitcoin goes below the lower Bollinger Band since the dump to $1850 in July. What do you think? A buy opportunity?
Meanwhile the US government surpassed 20 trillion in debt 2 days ago with about another 1 trillion added every 8 months. Japan is 9 trillion in debt. The debt of the southern countries in Europe is unsustainable as well. It's all just a matter of time. Every country out there has some serious fiat issues, and they all seem like a house of cards to me.
I'm taking advantage of the current FUD and have bought some Bitcoin at $3760...
JPMorgan CEO: Bitcoin is a fraud
JPMorgan CEO Jamie Dimon said today that bitcoin is a 'fraud' that will eventually blow up. A fraud? Think about who actually said it.
Banks like JPMorgan were fined billions of dollars for fraudulent mortgages in 2013 and now 'they' say Bitcoin is a fraud? What a joke! The very fact that banksters are against Bitcoin, gives me reassurance that this is the way to go!
See this list of JPMorgan's penalties:
Source
Who said Bitcoin is a fraud?
So Jamie Dimon (CEO JPMorgan Chase): This one is for you:
24 Hour Change
7 Day Change
Market Capitalization
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Latest Crypto News - September 13, 2017
Jamie Dimon Slams Bitcoin as a ‘Fraud’
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said he would fire any employee trading bitcoin for being “stupid.”
Read more: bloomberg.com
Bitcoin price falls below $4,000 on worries about China crackdown
Bitcoin fell below $4,000 on Wednesday with negative comments from major business leaders about the cryptocurrency and the threat of a regulatory crackdown, unnerving investors.
Read more: cnbc.com
Bitcoin 'mining': A new way for North Korea to generate funds for the regime
North Korea appears to be funding itself with bitcoin, according to a recent report. Recorded Future, an intelligence research firm backed by Google Venture and In-Q-Tel (a venture capital firm funded by the CIA), reported that North Korea began "mining" bitcoin on May 17 and could be using the digital currency to generate income for the regime.
Read more: cnbc.com
Correction Not a Crash: Bitcoin Price Eyes $3,000 as Traders Take Profits
The bitcoin-US dollar exchange rate fell below $4,000 on Tuesday, extending losses in the overnight trade to hit a three-week low of $3,781.
Read more: coindesk.com
Over 200 Two-way Cryptocurrency ATMs are Coming to Argentina
Two-way Bitcoin ATMs are a lot less common than people would think. The purpose of such a machine is not only to let people buy Bitcoin with the case, but also to accept Bitcoin payments and return cash to customers. About 200 of these two-way machines will make their way to Argentina in October of 2017. This is a major development for the cryptocurrency industry as a whole.
Read more: themerkle.com
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Steem Dollar Up 👍
I think it is just a every time returning correction based on FUD. The fundamentals are still great and I expect China will crack down on things only temporarily as in the past. Bitcoin and cryptocurrency is a huge opportunity for China and they will recognize this.
It shouldn't surprise me if the bottom is found here or around 3500 and we go to a new all time high again. Except for China the fundamentals are still great, think of the Jappanese and Russians involved in mining, the growing adoption on wall street and the upcoming side chains and other second layers. HODL!
We at COMMUNITY NEWS reckon this post has the potential to destabilize the Global Central Banking system - as such we thought it best that we resteem.
Thank you Penguin Pablo!
COMMUNITY NEWS
PS - even Jamie's daughter is smart enough to invest in BitCoin! She should have her father's job so JPM can start boosting trading revenues again.
Ouch
Most people seem to be panicking, but in reality a good healthy pullback is just what BTC needed. Anything that goes straight up without any kind of retracement is not healthy and probably a mania. Bitcoin is on fire, for sure, but I'm afraid many of the investors are expecting 100% gains every day and that to is not healthy either. I'd like to see BTC hover around the 4000's for a couple of weeks before it's next leg up. It needs to build a solid base, otherwise the swings will be lethal.
I'd say if btc fall another 2 weeks in a row, we need to prepare for long bear market.
I agree, but I think a long bear market is just what we need right now. The uptrend can't go on forever.
Very informative
👍🏼
If they really want to ban BTC exchanges in China - what i really doubt -, just think about the implications.
The demand is not going to reduce, the supply is going to get reduced, so the BTC price will go UP, not the other way around! Scarcity always increases the value of any item on the open market.
We will see new ATH-s this year if China is keep on banning valuable software inventions.
Anyway, setting up legal frameworks around the crypto ecosystem is great news and welcomed, as more institutional investors will have the confidence to invest in this space.
With chinese exchanges we lose a good portion of leveraged capital. So let's not underestimate them.
Ummm. What are u smoking. If the chines exchange are being removed the supply stays the same and demand is reduced. Less people buying bitcoin = less demand.
What novel economic theory says that reducing (banning) trading of bitcoin in China will drop price?
Demand stable, supply reduced.
Perhaps a short setback, but the underlying driver of demand (devaluing yuan and capital flight) doesn't go away.
165 billion more spent in 24 hours X 110 days = 21 Trillion, 100 years to get to 20 and we will have 40 trillion a few days after New Years?
Bitcoin Is Definetly Entering A Bear Market Which Is Good For The Long Term It Can't Just Keep Going Up All The Time :)
Totally agree! the healthiest thing is correcting right now... definitely a buy opportunity ;)
how long do you guys think will last this bearish trend: a few weeks, or a few months?