Bitcoin Falls Below $10,000

Following a meteoric rise to just shy of $20,000 per coin less than two months ago, Bitcoin, the oldest and most valuable cryptocurrency, fell below $10,000 on both the Coinbase and Bittrex exchanges for the first time since early December. It’s far from the only digital token plummeting.

Nearly every cryptocurrency is down, most by double digit percents, according to Coin Market Cap. The crash seems driven by fear of looming regulations from Germany, stricter laws in South Korea, and an increasing involvement by the SEC. Reddit community r/CryptoCurrency is directing US-based community members to the Suicide Hotline while panic ensues.

Every now and then someone will ask me about Bitcoin. I don’t know how it works under the hood but I get the gist of it.

What I also get is the reoccurring feeling that I like stable and mature technologies. Crytpocurrency is volatile and the people involved are lunatics.

From the Gizmodo article comments:

99% of the ‘hodlers’ have no idea what they’re talking about, the other 1% is hoping to scam the 99%

Have fun with all that.

Bitcoin and its kin are here to stay for sure but until you can buy stuff on Amazon with them, meh.

#bitcoin