Sunday, October 5, 2014

"Bitcoin Breaks Under $300.00"

The Financial Time's Izabella Kaminska nailed it a couple weeks ago in a post we titled:
Dude, Bitcoin Is So Over 
From Economic Policy Journal:
Bitcoin is now trading under $300.00. The low today so far is $282.47. (The high today was $360,54).  This downside volatility suggests very aggressive selling.

As I have posted some time ago, I expect a major new round of U.S. government arrests of people involved with Bitcoin. The arrests may, or may not, be justified from a libertarian perspective, but the lesson learned is that not only is Bitcoin a dangerous investment but using Bitcoin will not protect you from federal investigations and prosecutions....MORE
Here's the chart service Izabella posts.