BitCoin has now crested $12,000 USD.

[Frood]

Those are the risks early bitcoin adopters took.

[Anonymous]

Bitcoin Cash up 40 plus percent today. It's a far better bitcoin than core at the moment. People are realizing that it's pointless to use core at 20-90 dollar fees unless you buy large and hodl.



I washed my hands of Core the other day. Purged every last satoshi and said good riddance. It's turned into a real scam.

What is core?

[Frood]

Bitcoin Core. The one normally mentioned at the top.

[Berry Sweet]

I hear bit coin is going down.  Not good news.

[Anonymous]

I hear bit coin is going down.  Not good news.

Did you invest Berry?

[Frood]

I hear bit coin is going down.  Not good news.

It was inevitable. Too much hysteria and new buyers all at once.

[Odinson]

People just cashed out because its christmas...

[Anonymous]

Here's something DD and AGW might be interested in.

While a "Santa Claus" rally appears to be underway in the stock market, cryptocurrencies just got a visit from the Grinch.



Bitcoin and virtually all of its major rivals saw their prices plunge Friday, as the cryptocurrency bubble appears to be bursting.



Bitcoin prices sank from around $16,000 on Thursday to below $10,900 early Friday morning, before recovering somewhat to $12,000. Since peaking near $20,000 at the start of the week, the world's largest cryptocurrency has lost around 40% of its value.



It's not alone.



Rival Ethereum saw the price of an ether token slip from as high as $793 on Thursday to as low as $491 Friday morning, before bouncing back to around $600. Even with the rebound, the digital currency was still down more than 20% for the day. The same goes for Litecoin (down 20%) and Ripple (down 18%).



What's Causing the Cryptocurrency Crash?



The bullish take: This could be profit-taking among really short-term investors who just recently bet on cryptocurrencies to turn a quick profit.



We see the exit of short-term speculators and we have seen it before," Michael Jackson, partner at venture capital firm Mangrove Capital Partners, told CNBC. "The vast majority of long-term holders of bitcoin are still way in the money and have shown no sign of cashing out."



While it's true that pullbacks can be a healthy thing for market rallies in general — as they drive out buyers with weak conviction, leaving a stronger base of "true believers" — that's not likely to happen here. In fact, you should expect even more volatility and sell-offs going forward.



Why? This week's plunge in most of the major digital currencies coincides with the start of widespread trading in bitcoin futures contracts on the Chicago Mercantile Exchange, the world's largest futures exchange.



This means that for the first time, investors can bet on and against bitcoin prices, creating a potential downdraft for bitcoin. (Bitcoin futures on the CME were also down around 15% on Friday).



What's more, the growing popularity of cryptocurrencies in general is attracting a different type of investor.



In the early stages of the cryptocurrency boom, most investors were true believers who either intended to use bitcoin as currency (and therefore had a vested interest in its appreciation) or were buying the currencies for short-term gains (and were also rooting for rising prices).



Now, a wider audience is being drawn in, including institutional investors who stand to profit whether bitcoin prices go up or down.



Just this morning, Bloomberg reported that the investment bank Goldman Sachs plans to set up a cryptocurrency trading desk. Other major banks and hedge funds are likely to follow suit, creating an entirely new class of investors who don't care if prices fall as long as they're on the right side of the trade.



Meanwhile, as the nature of cryptocurrency demand changes, supply is growing. Bitcoin is no longer the only major player in this space. Ethereum, Ripple, Litecoin, IOTA, Cardano, Dash are all gaining traction. More supply thanks to this so-called Alt-coin boom means that even a slight drop off in demand could bring prices down going forward.

https://www.msn.com/en-ca/money/markets">https://www.msn.com/en-ca/money/markets ... ailsignout

[Angry White Male]

Bitcoin crashed pretty hard, and a lot of nervous folk scrambled to sell.



But guess what?  It's almost right back up to where it was.  Now they can buy back at a loss...  Fools.



Bitcoin is not like your average stock investment...  The exact same rules do not seem to apply.

[Frood]

Bitcoin crashed pretty hard, and a lot of nervous folk scrambled to sell.



But guess what?  It's almost right back up to where it was.  Now they can buy back at a loss...  Fools.



Bitcoin is not like your average stock investment...  The exact same rules do not seem to apply.

Bitcoin is broken. Its current Core Dev Team are broken. Its Blockchain is old and broken. The BTC and hard fork communities are broken.



Short while you can and hope that you're not sleeping the day BTC kicks the bucket. It's the crypto sacrificial lamb in the making.

[Berry Sweet]

I hear bit coin is going down.  Not good news.

Did you invest Berry?

I dont feel this was something worth investing in.

[Odinson]

Bitcoin crashed pretty hard, and a lot of nervous folk scrambled to sell.



But guess what?  It's almost right back up to where it was.  Now they can buy back at a loss...  Fools.



Bitcoin is not like your average stock investment...  The exact same rules do not seem to apply.

Major fluctuations were to be expected... Thats what happens when the thing is not tied into anything solid.



People are gonna buy bitcoin again and the price is gonna skyrocket again.

[Anonymous]

I hear bit coin is going down.  Not good news.

Did you invest Berry?

I dont feel this was something worth investing in.

I don't blame you Berry.

[Angry White Male]

Major fluctuations were to be expected... Thats what happens when the thing is not tied into anything solid.



People are gonna buy bitcoin again and the price is gonna skyrocket again.

Correct.  You have a solid understanding of this...

[Angry White Male]

Bitcoin is broken. Its current Core Dev Team are broken. Its Blockchain is old and broken. The BTC and hard fork communities are broken.

Short while you can and hope that you're not sleeping the day BTC kicks the bucket. It's the crypto sacrificial lamb in the making.

I don't think you understand what Bitcoin has become.  It has become NOT a vehicle to buy pizza's with, or illegal guns and drugs on Silk Road.