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Is this latent damage from the IRS ruling or something? I don't know why I'm still surprised by sudden, massive movement in BTC price, but usually the reasons s
by mmcclure 13y ago
Is this latent damage from the IRS ruling or something? I don't know why I'm still surprised by sudden, massive movement in BTC price, but usually the reasons seem pretty obvious (and over-reported).
- Xdes 13y agoChina is cracking down on exchanges by forcing the state-owned banks to close their accounts. That is the speculative force that is driving down the price. It is good that the price is going down since more people will buy Bitcoin now.
- beedogs 13y agoApparently this is all supposed to sort itself out by the 18th of this month -- that's the deadline they've given for account closures.
- danielweber 13y ago"This is actually good news."
- gojomo 13y agoChina, and perhaps selling to pay 2013 capital-gains taxes.
- thefreeman 13y agoPersonally I think its more a reversal of the "hype" valuation of bitcoin. For a while it was in the mainstream media all the time. Also, probably more importantly, Mt. Gox was constantly pushing the prices higher because nobody could withdraw USD, so the only way to get out of Mt Gox was to use all your USD to buy bitcoins and then transfer them to another exchange.