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It's down 17% from its highs a couple days ago. That's not something to blow off. If this was the stack market or the dollar people would be screaming for HFT

• fny 9y ago
  Bitcoin isn't a market or national currency. Bitcoin in more like a highly volatile equity or commodity. If the price of a volatile stock jumped from $21 to $30 in a week, and then cooled off to $24 two weeks later, no one would call it a crash. Just add to zeros to all those number, and that's exactly what happened to Bitcoin.
• jszymborski 9y ago
  Speaking purely from the perspective of someone who holds a small sum of BTC, this seems totally normal and honestly predictable. Again, I'm not an econ guy so this may be naive, but BTC strikes me as just crazy volatile and runs at break-neck speeds. Instead of having a great-depression or recession last years, it last a couple weeks to a month... ditto for bull markets. This month, BTC->USD rates have hockey-sticked, people on /r/bitcoin were cheering. This happens cyclically and is a signal that it's time to sell and buy the subsequent crash or wait it out until others do. It certainly feels like a correction.
• FreakLegion 9y ago
  > If this was the stack market or the dollar The US market and dollar are much larger entities with a lot more inertia. Bitcoin is roughly comparable to a single major company, and big swings in the share price of individual companies, even major ones, are relatively common.