Price of Bitcoin down more than 50 percent in 18 hours; move by Baidu
China giveth Bitcoin, China taketh away
China demonstrates once again its weight in financial matters when shortly after Baidu suspends acceptance of the digital currency for payment, price of Bitcoin dropped by more than 50 percent in a mere 18 hours. After all, China was the reason for Bitcoin’s rally because of rapid adoption in the country so it is appropriate that China is the one to pull the mat from under one’s feet.
Bitcoin too volatile
I am absolutely certain that Bitcoin should not be considered an investment asset at the moment.
But if one likes to try something new and is willing to accept some cuts and bruises in the process, here’s something that looks really fun.
But the trick is to hold fast.
Director, TerraSeeds Market Technician Pte Ltd. Trader, investor. @sohtionghum was picked ‘Top 70 Forex Twitter in 2015’. Operates multiple strategies.
“Dear reader, I do not have a financial license to give advice. I do not know you the reader. Your financial objective and risk tolerance may be different from mine. I am not responsible for any consequence of your action.