21st Century Wire says…
With this kind of volatility, it’s hard to call Bitcoin a currency anymore – as it’s become a gambling table…
Bitcoin surges to all-time high of $900, then drops below $650 in 30 minutes
It’s Bitcoin-madness today.
On the same day the U.S. government began discussions about Bitcoin, the value of the digital currency is skyrocketing.
Bitcoin’s value hit $900 on Mt. Gox exchange around 5 p.m. PST Monday, up more than 70 percent from Sunday’s close and setting an all-time high in the process. But, it also just dropped to $650 within the past 30 minutes, highlighting the current volatility of Bitcoin. The value of Bitcoin only hit $400 for the first time last week, and $500 for the first time on Sunday.
Today’s spike is likely due to The Department of Justice noting that Bitcoins can be “legal means of exchange,” and U.S. Federal Reserve chairman Ben Bernanke writing that Bitcoin “may hold long-term promise,” even though he said the Federal Reserve has no plans to regulate Bitcoin.
If you aren’t familiar with Bitcoin, it’s the emerging decentralized, virtual currency gaining popularity lately in light of the FBI shutting down Silk Road, the online marketplace for illegal drugs and illicit services. Bitcoins exist only online, can be transferred right away and are not controlled by a central authority like the Federal Reserve.
Up to this point, it’s been unclear how or if governments will try to regulate the system. But today’s news certainly indicates some hope for those in favor of digital currency.
Here’s a good place to learn more about Bitcoin and how it works.
Update, 6:25 p.m. PST:
Now, Bitcoin is trading at around $770 an hour after dropping from $900 to nearly $600. Madness!
READ MORE BITCOIN NEWS AT: 21st Century Wire Sci-Tech
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 888-809-8385 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
pathogens and gives you more
energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video)
Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.