Posts Tagged ‘Bitcoin going down


Today the Bitcoin exchange rate briefly dropped down to about $150 USD on Bitstamp, though shortly after that it rose back to over $200 USD. This was enough to scare some people to panic sell as usual and has sprouted new theories about the cryto currency failing or dropping down to sub $100 USD and so on. The fact is that lately the Bitcoin exchange rate was actively swinging with big jumps up or down and nobody knows for sure what is going to happen. This could be a result of the recently hacked Bitstamp exchange and almost 19000 BTC stolen that are being dumped on exchanges, or ponzi schemes that have stolen Bitcoins from users dumping them, or a result of big mining ASIC manufacturers (Cointerra) and cloud mining services such as CEX.IO stopping their mining operations. It could as well be none of the above or all of the above, but the majority of people that believe in Bitcoin and crypto currencies are not ready to give up on the idea. A lot of businesses however that are focused on mining for crypto currencies may suffer from the not so good exchange rate lately and we already are seeing very big companies in that area starting to get affected…