SUBSCRIBE to ELITE NWO AGENDA for Latest on BITCOIN / LITECOIN / CRYPTOCURRENCY / U.S. DOLLAR COLLAPSE / GOLD / SILVER / GLOBAL RESET http://www.youtube.com/EliteNWOAgenda
BITCOIN PRICE CRASHES UNDER 0 – How Much Lower Will Bitcoin Go?
0, it’s the new 0.
Yesterday’s selloff managed to push the price of bitcoin below the 0 mark this morning, around two weeks after the cryptocurrency fell below its prior 0 floor. Here’s a screenshot from BitcoinAverage from earlier today: There is a certain irony to the negative price momentum that bitcoin is currently enduring: It has seen increasing support from retailers, precisely the sort of network growth that its acolytes have hoped it could muster. However, such support — PayPal, and the like — are not driving its price upward. This could be an argument that potential short-term increases in the volume of bitcoin transactions do not drive up its per-unit price.
The price of Bitcoin fell nearly 20 percent this weekend to its lowest level of the year, prompting worries of a crash.
“As the price is going down, some of us are under immense psychological stress,” one user posted on Reddit on Sunday. “Please share how you cope with it.”
On Sunday afternoon, Bitcoin was trading at about 0, up from a low of 6, according to CoinDesk, a virtual currency website.
Some contend that Bitcoin’s price is irrelevant and that it does not reflect the virtual currency’s true value. Bitcoin is still most popular among speculators and technology enthusiasts and has yet to find a general use that will push it into the mainstream and help stabilize its price, they say. Since it was introduced in 2009 by an anonymous programmer, or group of programmers, the price of Bitcoin has fluctuated unpredictably. After reaching its peak of about ,150 late last year, the price has been in a prolonged slide. In August, a flash crash briefly set the currency world on edge, as the price dipped on one exchange to just over 0 from nearly 0. Bitcoin ended that day down about 12 percent.
Bitcoin has attracted the attention of a number of other regulatory agencies in the United States, including the Consumer Financial Protection Bureau, the Securities and Exchange Commission and the Internal Revenue Service. Our attachment to gold runs so deep that in the 20st century, when the gold standard was abolished, many people had a hard time to reconcile with the fiat reality. Some vented their anger and frustration on the Federal Reserve and its monetary policies, which is only understandable: For millenniums, gold was the best answer that we found in our quest for a perpetual and universal vessel to store value. bitcoin litecoin cryptocurrency price “sell bitcoin” “bitcoin trading” trade trading “day trader” crash collapse pricing usd dollar “u.s. dollar” currency coindesk commodity value popular tech technology mainstream media gold silver “gold etf” “sell gold” “buy gold” 2014 2014 usa “bitcoin atm” russia “hong kong” “united states” “trading platform” chart broker banking bank savings “bank account” “savings account” investor investment business “silver eagle” “gold bullion” coinbase “elite nwo agenda” anonymous we are change coast to coast am david icke infowars alex jones rant gerald celente jim rogers marc faber trading bitstamp davinci jsnip4 louis farrakhan lindsey williams end the fed ebola
The increase in the number of merchants now accepting Bitcoin could also be affecting the price. These merchants, including Overstock and Dell, use third-party payment processors like Coinbase to immediately convert Bitcoin to dollars. This means there are more Bitcoins in circulation, which could be helping to drive down the price. alibaba It may soon be against the law for Russians to possess Bitcoin (BTC) or other digital currencies.
Legislation put forward by Russia’s Ministry of Finance would ban all digital currencies and impose a range of financial penalties on individuals and companies caught creating, generating, or using “quasi-money.”
Websites associated with the digital currency market are expected to be banned as well.
According to Russian media, the proposed penalties for using cryptocurrencies are: 50,000 rubles (US ,251) for individuals, 100,000 rubles (US ,503) for officials, and up to 1 million rubles (US ,038) for businesses. A whistleblower who was employed as a briefing researcher at the Federal Reserve has revealed that Fed governors were “highly alarmed” by a major internal report which revealed that Bitcoin would likely supercede the dollar system within the next 12 years. Russian news site Lenta reports the ban will not affect electronic payments from Webmoney—the Russian equivalent of PayPal—or fictional currencies used in video games that are often purchased with actual money.