Today’s Chart: Bitcoin Bubble Bursting?
- Posted by Tech Insidr
- on October 18th, 2011
Bitcoin, which is the first peer-to-peer digital currency, garnered some serious buzz among traders and investors. Some supporters say the currency offers major advantages over existing currencies because the system can avoid hefty bank fees and government regulations.
Although the currency started off with a bang… the value of Bitcoin’s currency has taken a serious nose-dive since June 2011.
“Bitcoin, the world’s first peer-to-peer digital currency, fell below $3 on Monday. That represents a 90 percent fall since the currency hit its peak in early June.”
My advice? Stay away from risky, speculative investments like new digital currencies.
Who knows what the real downside is on these tough-to-value assets.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Rob a.k.a. Techinsidr has been trading stocks and following the stock market since 1997. He formerly worked at Intel Corporation in a Financial Analyst role, responsible for overseeing an annual budget of $160M... More »