[2017-01-23] BS: Rise and fall of Bitcoin, does history repeat itself?

nizamcc

legendary

Activity: 1218

Merit: 1007

Quote from: polynesia on January 26, 2017, 12:51:02 PM

Did anybody notice that this is a sponsored article?
Who would be interested in sponsoring a generic article on Bitcoin, in an Indian newspaper? Huh

A Bitcoin fanatic, or someone who loves it to such an extent that he would just travel places if BTC goes $1k which it already did. Wink

This shows that everything is under the bot's control as they are creating same patterns in a repeated way during a set time that shows the same things in same ways.

polynesia

legendary

Activity: 1358

Merit: 1000

Did anybody notice that this is a sponsored article?
Who would be interested in sponsoring a generic article on Bitcoin, in an Indian newspaper? Huh

polynesia

legendary

Activity: 1358

Merit: 1000

Rise and fall of Bitcoin, does history repeat itself?

http://www.business-standard.com/content/specials/rise-and-fall-of-bitcoin-does-history-repeat-itself-117012300856_1.html

Just four days into the New Year, investors trading bitcoin in 2017 were already experiencing a boom after its value hit the roof and went way above the $1,000 psychological ceiling. On January 4th, 2017, the value of bitcoin, the crypto currency that has caught the attention of many globally but only a few understand how it operates, shot up to $1,153.02. This was about $13 shy of the all-time high, it hit on November 30th in 2013 when its value reached the highs of $1,165.89. In addition, this was the second time bitcoin had blown the $1,000 mark in its eight years of existence.

The hype surrounding the rise in the value of bitcoin was, however, short-lived. About 10 days after the digital currency hit new highs in value, the Chinese government issued a statement that saw bitcoin value drop drastically in a matter of days. In their statement, the Chinese government through People’s Bank of China said that its representatives had met with the major bitcoin exchanges based in China, to review and reinforce the importance of the digital currency sector operating within the relevant laws and regulations. This news sent negative sentiments across the bitcoin markets and prices started falling. By January 18th, 2017, the value of bitcoin had fallen by about 25%, to trade at about $869.

Topic: [2017-01-23] BS: Rise and fall of Bitcoin, does history repeat itself? (Read 612 times)