Right now the dollar pundits are feeling pretty smug. And they should be. Bitcoin is nearly 50% off its highs.
We’ve said that if the banks/governments can take Bitcoin out, they will. The question is CAN they? That is the bazillion dollar/Bitcoin question.
The price of bitcoin, the world’s biggest and best known cryptocurrency, fell to as low as $10,0000 on the Luxembourg-based Bitstamp exchange, the lowest since Dec. 1.
Bitcoin touched a peak of almost $20,000 in December — and indeed crossed over that threshold on some exchanges — but has since been roiled by several large sell-offs.
Other cryptocurrencies plunged as well. Ethereum and Ripple were both down heavily after reports South Korea and China could ban cryptocurrency trading, sparking worries of a wider regulatory crackdown.