BITCOIN DIARY: There's blood on the streets of crypto, my friend, blood!
This follows weeks of relentless miserable news: India clamping down, China clamping down, Facebook banning cryptocurrency advertising ...
I imagine it's pretty crushing for the believers. After sagging, drooping and sulking somewhere around R125,000 per bitcoin for a week or so, the market collapsed over the last two days leading to what has been described as the 'worst weekly performance since 2013'. This follows weeks of relentless miserable news: India clamping down, China clamping down, Facebook banning cryptocurrency advertising ... Here's a summary that doesn't pull any punches: The latest numbers (real traded ZA numbers, which are less flattering than dollar numbers converted to rand) show Bitcoin at R96,000. I must immediately point out that within five minutes of publishing this, the price is likely to be different, such is the volatility of crypto right now. Others such as ethereum and litecoin have not been spared. The ZA price is now roughly where it was in mid-November and way off the high of more than R300,000 in mid-December, which means that everyone is adjusting their expectations and trying to estab...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.