Here’s a cool parlor trick: If you want to bring a loud, rowdy room to a screeching silence, ask if anyone can explain how cryptocurrencies work.
On January 23, Bitcoin fell below $10,000. That’s the second time in recent days that prices dipped below this psychologically important threshold. The headlines picked up on the drama: “Bitcoin tumbles below $10,000 and is now down 25% on the year…” (CNBC, Jan 23)
Bitcoin the Virtual currency in the last two days falled heavily from 900 levels to sub 700 levels and looks like some one had pressed the panic sell button. Mt. Gox, one of the world’s biggest Bitcoin trading exchanges, has temporarily suspended all Bitcoin withdrawals with immediate effect.