Bitcoin Bubble

Bitcoin price – Cryptocurrency plummets $1000 ahead of bitcoin gold split

Bitcoin price – Cryptocurrency plummets $1000 ahead of bitcoin gold split BITCOIN prices took a blow today, falling below £5,328.46 ($7,000) just days before a planned software update will release bitcoin gold. Bictoin prices fell by £761.21 ($1,000) in just over 48 hours after strong performance at the start of the week. The crypto token opened today at £5,440.19 ($7,146.78), according to CoinDesk, before peaking at £5,579.71 ($7,330.06). On Wednesday, the popular digital currency flared to an unprecedented price of…

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Bitcoin’s price bubble will burst under government pressure

Bitcoin's price bubble will burst under government pressure Is the cryptocurrency bitcoin the biggest bubble in the world today, or a great investment bet on the cutting edge of new-age financial technology? My best guess is that in the long run, the technology will thrive, but that the price of bitcoin will collapse. If you haven’t been following the bitcoin story, its price is up 600% over the past 12 months, and 1,600% in the past 24 months. At over…

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Early bitcoin investor Palihapitiya declares ‘nobody can stop it’

Early bitcoin investor Palihapitiya declares 'nobody can stop it' Social Capital's Chamath Palihapitiya was early in both Facebook and bitcoin and continues to back both. "The idea that the government can put curbs on this is actually pretty specious," he said in response to JPMorgan Chase CEO Jamie Dimon's criticism of bitcoin. Investors who followed Social Capital's Chamath Palihapitiya into the early stages of two investments he advocated would have made an awful lot of money. Palihapitiya was early in…

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Bitcoin Price Analysis – A perfect storm

Bitcoin Price Analysis – A perfect storm Bitcoin has dropped ~USD$400 in the past 24 hours, contributing to a ~USD$1450 drop in the past seven days. The leading cryptocurrency is down ~US$1150 Since the recent high of ~US$4950 on Sept 2nd, or nearly 30%. The lackluster performance can be attributed to both technical and fundamental factors. On September 4th, China announced an outright ban of all ICOs, suggested refunding any collected funds in any ongoing crowd sales, and hinted at…

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Bankers’ mistrust of bitcoin is still the greatest argument for it

Bankers’ mistrust of bitcoin is still the greatest argument for it Earlier on Tuesday, at different conferences around New York, JPMorgan Chase chief executive Jamie Dimon took aim at bitcoin, calling the cryptocurrency “a fraud” and “worse than tulip bulbs.” This skepticism by one of Wall Street’s titans, and its reflection in many offices and hallways in top financial services companies, is perhaps one of the strongest cases for bitcoin’s lasting importance. Let’s be clear, Dimon’s firm is one of…

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