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Bitcoin extends losses, slides under $3500 to lowest since September 2017

By CNBC

Coming off a week of heavy losses, bitcoin fell 10 percent and set a fresh low at $3,447.58 on Sunday, according to data from CoinDeskRead full story

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  • Naveen Jain
    Naveen JainproFounder & CEO at Viome

    Bitcoins are like tulips and made for speculation. All currencies including USD are already digitized. You can use PayPal, Venmo to transfer stored value to anyone. Bitcoin doesn’t solve any real world problems other than facilitating illegal money transfer. I can’t think of any problem that Bitcoin actually solves.

  • I think it is so early to call a bottom or a top or death or immortality.

    Speculative trading is always a bad idea. But moreover, focusing on price in isolation is to focus on a completely arbitrary measure. Volume, liquidity, market cap, institutional adoption and regulation, are all important factors to weigh around health of a market. And many of these factors remain favorable for the crypto.

    The market is also evolving so quickly that any single event could be a major catalyst in either direction

    I think it is so early to call a bottom or a top or death or immortality.

    Speculative trading is always a bad idea. But moreover, focusing on price in isolation is to focus on a completely arbitrary measure. Volume, liquidity, market cap, institutional adoption and regulation, are all important factors to weigh around health of a market. And many of these factors remain favorable for the crypto.

    The market is also evolving so quickly that any single event could be a major catalyst in either direction. For example, Ohio just announced acceptance of corporate (and eventually individual) taxes in bitcoin yesterday. The more government and institutions adopt BTC, the longer its lifespan.

  • Kevin Delaney
    Kevin DelaneyEditor in chief at Quartz

    The bitcoin bloodbath has gotten even worse...

  • James Ayoub
    James AyoubAnalyst // Lifelong Learner // Minimalist

    And bitcoin returned to a life of obscurity, never to be heard from again...

  • John Detrixhe
    John DetrixheFinance Reporter at Quartz

    Bitcoin was designed to make online transactions more private, to provide a kind of “cash” in an increasingly electronic and surveilled world. It has already succeeded in these goals to some extent. A single bitcoin arguably doesn’t need a high value to do this.

    Bitcoin probably wasn’t designed to make Silicon Valley bros and venture capitalists rich(er). Bring on the blood bath.

  • While the price of Bitcoin slides, the concept of a “cryptocurrency” has made a permanent impression on the consumer financial sector.

    It takes 7 days for a large deposit to make it through to a traditional bank account.

    It takes 2 days to receive a large package from Amazon.

    It take 5 minutes to receive a large deposit in a cryptocurrency.

    Real-time value transfer, which is the core idea behind a “cryptocurrency” is something worth building, with neutrality toward the actual particular coin that

    While the price of Bitcoin slides, the concept of a “cryptocurrency” has made a permanent impression on the consumer financial sector.

    It takes 7 days for a large deposit to make it through to a traditional bank account.

    It takes 2 days to receive a large package from Amazon.

    It take 5 minutes to receive a large deposit in a cryptocurrency.

    Real-time value transfer, which is the core idea behind a “cryptocurrency” is something worth building, with neutrality toward the actual particular coin that makes this happen.

    This is just the beginning.

  • Is Bitcoin like an aging celebrity, wondering where all of its star-struck fans have gone? I suppose the only rule that governs Bitcoin and anything of value, is what people are willing to pay, and how valuable they think it is. Friendship and love have retained their value (so I’ll keep focusing on those).

  • Paul Salisbury
    Paul SalisburyCEO at BlockchainLabs.nz

    While speculating on Bitcoin is ill-advised, the advantages of a decentralized cryptocurrency network as the rails for cross border payments and trade finance is significant. With the added layer of “stablecoins” and hedged notes, we can move millions of dollars quickly and transparently, without being exposed to volatility.

    Many of our clients around the world could never do that with the old banking rails.

  • Takuma Kakehi
    Takuma KakehiProduct Manager at Quartz

    September 2017? How crazy crypto was only 3 months last year

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