from clif high:
Bitcoin Cash Battle: Bitcoin Jesus vs Satoshi’s Vision
The battle over Bitcoin cash is getting very expensive. Escalating feuds have hit the entire crypto sector.
Bitcoin Roasted Like a Thanksgiving Turkey, Drops 40% in Two-Week Span
by Peter Schiff, Schiff Gold:
Bitcoin dropped below $4,000 as a massive selloff in the cryptocurrency market continued over the Thanksgiving weekend.
The price of a bitcoin fell as low as $3,604 during the sell-off. It has lost some 80% of its value from highs reached late last year when the price of bitcoin eclipsed $20,000. Bitcoin has fallen 40% in just two weeks of November. It was the worst price drop since April 2013.
Other cryptocurrencies including ethereum and ripple have seen similar price drops.
Bitcoin regains $4000 handle after sustaining another 10% loss overnight
by Kenneth Schortgen, Shotgun Economics:
Bitcoin’s crash over the past week continued up until the start of Asian trading here on Nov. 25 after falling as low as $3578 earlier today. However it appears that buying volume across the entire cryptocurrency sector has helped propel it back over $4000 per coin.
Bitcoin Plunges to $3,738; Whole Crypto Scam Melts Down, Hedge Funds Stuck
by Wolf Richter, Wolf Street:
$714 billion have gone up in smoke.
Bitcoin plunged to $3,738 at the moment. Down nearly 40% from two weeks ago, and down 81% from peak-mania of $20,078 on December 17, 2017. It’s back where it had first been on August 12, 2017. It looks like a magnificent bubble that is imploding, but “bubble” is a misnomer; it’s a magnificent scam, where people paid a lot of money – many billions of dollars – to get an essentially useless digital entity whose price then dissolved into where it had come from.
This chart via CoinMarketCap shows the drama of bitcoin’s market cap surge to $333 billion on December 17, 2017 and the collapse to $64.9 billion now:
Bitcoin, One Year After the Historic Bubble – Nathan McDonald
by Nathan McDonald, Sprott Money:
We are rapidly approaching the one year anniversary of Bitcoins all time, mind blowing, historic high of $19,140.70 USD that occurred on December 19th 2017.
Just as predicted, the price of Bitcoin has suffered a staggering, absolute collapse in price since that period of time, falling to a low of $4,246.31, just a few short days ago.
As of today’s writing, Bitcoin has tested its low multiple times, perhaps foreshadowing a move higher as the crypto bulls attempt to rally higher into the close of the year.
As energy demand skyrockets for cryptocurrency mining, a new study shows that it takes three times the energy to mine Bitcoin as it does gold
by Kenneth Schortgen, Shotgun Economics:
There have been some analysts on Wall Street, as well as a large portion of the cryptocurrency community, who believe that Bitcoin can and is the new replacement for gold as a store of wealth. However in a new study out on Nov. 5, data is showing that the energy cost right now to mine a single Bitcoin is three times greater than the amount of energy required to mine physical gold, and that this will only increase as the Bitcoin algorithm demands more and more energy for each new token.
