Bitcoin and crypto rout continues into another day

Bitcoin $BTC continues to plummet after another bad day in the crypro currency world, down some 16.24% in the last day to to $6,469 currently.

This precipitous fall form $20,000 on the 17th December must be causing some real pain for margin traders, located mainly in China. Vast swathes of paper wealth have been blown away since the top.

 

 

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Bitcoin $BTC continues to plummet after another bad day in the crypro currency world, down some 16.24% in the last day to to $6,469 currently.

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This precipitous fall form $20,000 on the 17th December must be causing some real pain for margin traders, located mainly in China. Vast swathes of paper wealth have been blown away since the top, which occurred, coincidentally, the day before the CME Futures Contract commenced on December 18th!

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I warned at the time that there was a danger they had given Wall St. control of what had been, until then, a truly decentralised currency outside the control of any government agency¬† or financial regulator. Based on what has occurred since, price wise, you have to ask the question was the ‘regulating’ of Bitcoin a good idea, or a very bad one that has handed control over to those that control all other financial reins?

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