This makes no fucking sense, whatsoever. But for some reason, idiots abound are tethering the fate of BREXIT to the Bitcoin, the virtual reality scam currency.
Bear in mind, there was another higher profile, $50 some odd million, hack attack on one of their idiot exchanges, which might be prompting this 5 day 25% drop in BTC.
Bitcoins are lower by 4% today.
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Bounced at 61.8% retrace of the big spike move — the “halving” event occurs in early July so that probably has more to do with the move than the “Brexit” rainbow owl.
Plus the hack was on the Ethereum DAO network, which, incidentally, has nothing to do with bitcoin.
But it’s a crypto currency. so there’s that.
Fly, your knowledge of bitcoin is embarrassingly bad. The “hack” you mention was not of a bitcoin exchange, it was an exploitation of ethereum, which is an entirely different currency. It’s like you’d seen someone making off with silver from a bank so you conclude that gold is a bad investment. The fuck.
Bitcoin has value for the same reason gold has value. It’s a currency of limited supply. It just happens to have the added advantage over gold that you can send bitcoins to anyone, anywhere in the world, instantly at zero cost with no third party intermediary required. Sending a gold coin to someone on the other side of the world would be relatively very expensive and would require several intermediaries (shipping companies, insurance companies etc). It’s a little sad you can’t see the value proposition in a technology that allows this, especially in the age of the fucking internet.
Bitcoin is still up nicely year to date. Like 1999 except with currencies, not stocks. Real currencies are for losers.