If you enjoy the content at iBankCoin, please follow us on TwitterBitcoin, the world’s most popular virtual currency, dropped from a high of $265 to a low of $156 in a period of six hours Wednesday afternoon. Pretty much everyone the Daily Dot has spoken to recently involved in Bitcoin — buyers, entrepreneurs, venture capitalists and others — believed a “downward correction” was coming. It’s come.
It is tempting to look for a dramatic reason for a decline like this. It may well be simply that with a relatively small number of people trading the currency, a proportionally small number of people can trigger a big sell-off that will tank the price.
It could also be a calculated attack on Bitcoin.
Joined Jan 27, 2008
7,405 Blog Posts
