Bitcoin prices on the Mt. Gox exchange have fallen 24% from Friday highs to below $900 after Baidu announced it would stop accepting Bitcoin for its music service users.
According to multiple reports, the Chinese search giant issued a statement saying:
Dear acceleration music users:
Due to the recent fluctuations in the price of Bitcoin larger unable to protect the interests of users, in response to the risk of state-controlled bitcoin spirit Baidu music accelerate decision to suspend with immediate effect from accepting bitcoin buy accelerate music services.
Read more: http://www.businessinsider.com/bitcoin-falls-below-900-2013-12#ixzz2mj4VjTLU
Topic: Reason for fall (Read 941 times)
Now I'm showing Gox stuck at 877. Did they halt trading?
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The reasons for the fall?
NEW YORK (MarketWatch) -- The price of bitcoin fell over 24% from its daily high on Friday after Chinese Internet company Baidu said it would stop accepting the digital currency for service payments, according to news reports. The plunge in prices came a day after the People's Bank of China said it would not consider bitcoin a real currency . The fate of the virtual currency has been seen as increasingly linked to China, making announcements like the one from Baidu particularly scrutinized. Bitcoin was last trading on the Mt. Gox exchange at $877.46.
thanks for the coins!
Casey Research in IS today recommended to liquidate all bitcoin positions and buy gold instead.
While others are pumping, it's time for dumping.
Casey Research in IS today recommended to liquidate all bitcoin positions and buy gold instead.
It's friday.
Damn straight. Fish have longer memories.
It's friday.
There has been a headline that Baidu is suspending acceptance of BTC due to valuation fluxuations. Not sure if this is new but that IS the reason for the fall right now, according to what a call a reputable news site.
Well this is not helping matters...
Well this is not helping matters...
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