Bitcoin Has Lost Nearly Half Its Value in 11 Months (cnbc.com) 110
The price of bitcoin dropped 13% down to $64,394 just in June — but there's more bad news, reports CNBC." "Bitcoin has lost nearly half its value since reaching a record high above $123,000 in July 2025."
While previous bitcoin selloffs were often followed by large rebounds in price, the latest decline may prompt some investors to revisit why they own bitcoin in the first place, [says Daniel Sotiroff, associate director of ETF and Passive Strategies Research at Morningstar]. Here's what he and other experts have to say about the case for holding crypto, and how much exposure is appropriate for the average investor...
Not all financial professionals agree bitcoin belongs in a portfolio. Bitcoin differs from stocks, bonds and real estate because it doesn't generate earnings, interest payments or rental income that investors can use to estimate its value, says Robert Johnson, a finance professor at Creighton University. Instead, its price is largely determined solely by investor demand. "You cannot invest in Bitcoin, you can only speculate," he says.
Sotiroff agrees that bitcoin is difficult to value using traditional financial metrics. "The best analogy I've heard is that it's more like a collectible, because it's basically worth what other people are going to pay for it," he says.
Sotiroff told CNBC the recent selloff was a reminder that bitcoin's gains can be accompanied by equally dramatic declines — one reason many financial planners recommend limiting exposure to a small portion of a broader portfolio. "You just really can't make a call on what direction it's going to go," says Sotiroff.
Not all financial professionals agree bitcoin belongs in a portfolio. Bitcoin differs from stocks, bonds and real estate because it doesn't generate earnings, interest payments or rental income that investors can use to estimate its value, says Robert Johnson, a finance professor at Creighton University. Instead, its price is largely determined solely by investor demand. "You cannot invest in Bitcoin, you can only speculate," he says.
Sotiroff agrees that bitcoin is difficult to value using traditional financial metrics. "The best analogy I've heard is that it's more like a collectible, because it's basically worth what other people are going to pay for it," he says.
Sotiroff told CNBC the recent selloff was a reminder that bitcoin's gains can be accompanied by equally dramatic declines — one reason many financial planners recommend limiting exposure to a small portion of a broader portfolio. "You just really can't make a call on what direction it's going to go," says Sotiroff.
It is a currency. (Score:4, Insightful)
That the more people use it the less it is worth?
Re: It is a currency. (Score:1)
Any Evidence? (Score:2)
Russia and Iran are undoubtedly spending down their Bitcoin reserves
Do we know that they actually have Bitcoin reserves? And if so, do we know how much they have? The only confirmed national "reserves" I've heard about, prior to the wars, was tiny nation stats like El Salvador.
Also, what would Russia and Iran be spending them on? Wouldn't it be more likely that they are accepting Bitcoin payments for their oil exports? And probably not Bitcoin either. More likely some stable coin because Bitcoin sucks due to volatility.
I see lots of baseless claims online about these nation
Re:Any Evidence? (Score:4, Interesting)
Also, what would Russia and Iran be spending them on?
Have to pay your troops. Or in Russia's case, bribe people to enlist then pay out when they're killed the next week.
Also have to pay the companies making your guns, drones, and ammunition. Or, in Russia's case, paying people to put out fires at their oil refineries which keep going up in flames [kyivindependent.com].
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Have to pay your troops. Or in Russia's case, bribe people to enlist then pay out when they're killed the next week.
I'm imaging it's more like giving people the choice of being jailed or killed now vs the possibility of being killed in the field, though the article below reports (unverified) claims that voluntary recruitment is still high. Even prisoners are being released to fight...
Russia offers cash bonuses, frees prisoners and lures foreigners to replenish its troops in Ukraine [apnews.com]
For average wage earners in Russia, it’s a big payday. For criminals seeking to escape the harsh conditions and abuse in prison, it’s a chance at freedom. For immigrants hoping for a better life, it’s a simplified path to citizenship.
Seems that "big payday" comes with a big risk though ...
Re:Any Evidence? (Score:5, Informative)
Re:Any Evidence? (Score:4, Interesting)
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What is this bitcoin crap and how does it relate to the only coin which matters: $TRUMP?
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Trump is probably going to lift virtually all the Iranian and Russian sanctions as part of what he gives up to stop his own ill-conceived War. So yeah I can see Bitcoin continuing to drop.
He'll do almost anything, as long as he can spin it as somehow "better than Obama's deal" in a way his supporters will tenuously believe. Practically, I'm not sure how it could be better than the Iran Nuclear Deal [wikipedia.org] - formally The Joint Comprehensive Plan of Action (JCPOA) - especially as Iran, and probably Oman, will *now* (probably) exert some control over the Strait of Hormuz - but, hey, whatever gets him there.
Hormuz strait will be open but with transit fees, Iran envoy to Moscow quoted [reuters.com] (June 8)
"Of course, this strait will be open, but with new conditions to be determined by the Iranian and Omani authorities," Ambassador Kazem Jalali told the Russian newspaper Izvestia in an interview published on Monday.
"We understand that Iran and Oman provide certain services related to this strait. And fees will be charged for those services," he said without elaborating.
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At this point, yes. It's the only way they can deter the US and Israel from attacking them.
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That the more people use it the less it is worth?
That 'currency' could be compared to a religion with regards to its factual value.
Whole lotta believers out there. Gonna get downright apocalyptic when that coin runs out of bits to give.
Re:It is a currency. (Score:4, Informative)
Its not a currency. At best, its a title to nothing.
Re:It is a currency. (Score:5, Insightful)
If it was a real currency, it losing value would generally be considered a positive. It means the sale of a good would earn more of the stuff. But this is where the bullshit hits the road. Its not a currency, nobody is using it to facilitate economic trade. Its just a shitty ponzi token. And the favor of the market has moved on from Dunning Krugerands to AI slop.
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Controlling an entry in the blockchain ledger is not the same thing as controlling a banknote in physical reality. The control of the blockchain entry relies on others attesting that I have control over it, but for a physical banknote, I merely need to physically control it and don't need any 3rd party attestations. Note that this does not rely on any kind of mumbo jumbo about the economic value of either one represents.
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People are using it? Where?
Re: It is a currency. (Score:1)
A very small portion of my portfolio (Score:1)
Wait what (Score:2)
"Bitcoin has lost nearly half its value since reaching a record high above $123,000 in July 2025."
Wait, so the imaginary, ever-inflating fake fantasy 'money' is wildly unstable and subject to crazy valuation swings without any rhyme or reason?
Sounds awesome, sign me up!
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Imagine tying your country's monetary policy to it (that's the dystopian dream of many cryptobros). Wake up as Switzerland, go to bed as Zimbabwe.
Re:Wait what (Score:5, Insightful)
It's also lost its hype operation. People who used to boost it from Marc Andreessen to Peter Thiel are now boosting AI instead. Even Slashdot now rarely has an article on crypto, instead posting breathless puff pieces about genAI. Of course it's going to lose value without the same group of idiots, nutters, and con-artists boosting it.
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There simply isn't anything left to hype. ~5 years ago, you could say that Bitcoin was going to really take off once governments started recognizing it, once major investment funds started trading it, once a Superbowl ad educated the public on the wonders of crypto, etc.
Those things have now all happened. The Bitcoin advocates got what they wanted. And the irony is, there's no longer a new shiny (plausible) thing on the horizon that might convince the average buyer that the price will go up in the futur
The search for the greater fool came to an end (Score:3)
Ye olde stories of mooning in a bygone era can't sucker people into it any more, especially when AI companies actually mooned while Bitcoin didn't.
Bitcoin is not a convincing lottery ticket any more and that was all people were ever interested in.
Re: The search for the greater fool came to an end (Score:4, Insightful)
AI is the new bitcoin/blockchain, if you're not on the bandwagon, you stand to lose out :/
At least fiat currencies are backed by a nation, you can see if a nation has inflation and currency will be worth less in the future. What does bitcoin have? I regard them the same way as NTF's and classic cars, it's only worth as much as someone will pay.
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Bitcoin absolutely was a lottery ticket. In much the same way 401ks are.
This right here confirms you are incompetent to give financial advice.
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Bitcoin absolutely was a lottery ticket. In much the same way 401ks are.
This right here confirms you are incompetent to give financial advice.
I'll try and remember that when the Stock Market House of Cards topples over under the sheer weight of..expert financial advice.
Again.
It'll only be the fourth fucking time I've had to survive it. Along with many others who assume plebian-grade financial advice is anywhere near as good as the crystal ball now issued to every Insider Trading member of Congress thanks to Pelosi's Law governing Stock Market stability.
Still think those are financial experts? Perhaps we bet on it. What's another c-note dumpe
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It'll only be the fourth fucking time I've had to survive it.
Invest long-term and leave it the fuck alone.
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I'll try and remember that when the Stock Market House of Cards topples over under the sheer weight of..expert financial advice.
Looking at the stock market charts, I see that nothing has 'toppled over'. It has continued to rise year after year. Does it have dips? Yes. Those are corrections to over-valued stocks, and a chance to buy at a lower price.
It'll only be the fourth fucking time I've had to survive it.
If you just let it ride, and continue to buy on dips, it is very survivable. How would one NOT survive one of these... topples?
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The last ten years had mooning momentum and FOMO, that's gone now, swallowed by NVIDIA and Hynix. What will the next ten years have to drive continued purchases?
If Bitcoin can't moon any more, what is its purpose? It's not even shiny.
Re:The search for the greater fool came to an end (Score:5, Insightful)
401ks have fundamentals behind them (comprised of companies that make products and services that people want to buy, generally as repeat-buys)
Governments have fundamentals (the ability to levy taxes, backed by the full force of the courts, the police, and ultimately, the military)
Bitcoin has no fundamentals. It's a collectible. Its value is based purely how much people want that collectible. The only reason, as was stated, that people were buying it was as a lottery ticket. But there is no reason to "own" it beyond that. It's not generating dividends or doing stock buybacks based on profits. It's just there for those who want to collect it. And its value depends on how much people want to collect it.
(Arguably its greatest power is that its holders stand to lose so much if regulation goes against them that they tend to be very politically active, with large donations to pro-crypto candidates)
Re:The search for the greater fool came to an end (Score:4, Funny)
It's a collectible. Its value is based purely how much people want that collectible.
It's Beanie Babies.
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It's a collectible. Its value is based purely how much people want that collectible.
It's Beanie Babies.
Given it's insanely high valuation, I'd put it more akin to high value art that in many cases isn't high in value or even artistic. But is treated as such for launder, er I mean tax mitigation purposes for those who boug, er I mean contributed a political donation to the creation of those IRS deduction rules..which said 'donation' is unsurprisingly also tax-deductable..
When the Babies shit their Beans all over the valuation bed, no one on Wall Street was left bent over holding the bag. Apples vs. hand gre
Nothing backs it (Score:5, Insightful)
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Price of silver has also dropped about 50% since it's peak in January. Yet, silver is valuable as both a monetary metal and industrial metal.
50% drop in the value of an asset is not that unusual.
If you have assets, you are wise to spread them out because anyone of them can underperform or fail. If you want to put 2% of your portfolio into BTC, you can only get burnt by 2% by that decision. If you invest in pre-IPO stock, you should limit percentages because risk of failure is high though returns can be spec
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Unlike bitcoin. You summed it up nicely right there.
Right now, I want to buy tin-silver alloy, to use in casting. But the prices of both tin and silver are insanely expensive right now. So I'm not buying now. If the prices go down? I'll buy. If they go down a lot? I'll buy a lot, perhaps even to sell on my sales website. And this buying is to *use* it. Which takes it off the market. There are fundamentals behind silver.
There are no
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Price of silver has also dropped about 50% since it's peak in January. Yet, silver is valuable as both a monetary metal and industrial metal. 50% drop in the value of an asset is not that unusual.
Bitcoin has a lot in common with precious metal investment. Volatile AF.
However, it is extremely unlikely that gold, silver or platinum will ever be worthless. Bitcoin could.
The whole aim of bitcoin is to get as many people to exchange their dollars for it, then the chosen few in real control begin the selloff. Pump and dump. And so far, there are plenty enough "greater fools" to keep it going.
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Price of silver has also dropped about 50% since it's peak in January. Yet, silver is valuable as both a monetary metal and industrial metal.
50% drop in the value of an asset is not that unusual.
False narrative, silver hasn't dropped beyond it's long term average price. In fact it's still trading double what it was last year. The monetary and industrial uses set the *floor* for a price, it doesn't preclude the ability for idiots to use it as a speculative investment.
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The exchanges very livelihood depends on the credibility of Bitcoin. So they will backstop it at the line in the sand, 60k, and can keep that up for very long.
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Re: Nothing backs it (Score:2)
Money is backed by violence. As in if you donâ(TM)t give the government its money, even from the value of your bartering, it will use violence on you. That alone gives it value.
Re: Nothing backs it (Score:4, Insightful)
And also an inflationary currency is a very bad thing.
For one, it screws over debtholders (aka, most people), as the value of the debt owed grows instead of declining. If you work for a company making lumber, and a given board sells for $10 now, but 20 years from now sells for $5, and you sell the same number of boards per unit labour with the same relative margin, then all else being equal, your salary must be half in 20 years what it is today. But that mortgage that you took out today for $200k is still $200k (adjusted for interest and payment of principal). Which you have to pay on with a salary that is half what it is in dollars. That person is totally screwed.
Secondly, it discourages spending. The more you delay purchases, the more you'll be able to buy in the future. So everyone is encouraged to not spend. Which screws over your economy. It also screws over your tax base when taxation is based on taxing spending. Meaning you have to raise your spending-related taxes, which further discourages spending.
Third, it worsens wealth inequality. If you're living paycheck to paycheck, you have no savings. If you're a billionaire, you have a lot of savings. The billionaires see their assets grow and grow, and it comes at the cost of the working class. Also, said billionaires are encouraged to keep their money as cash rather than investment, which further ruins your economy.
This is no way to run an economy.
Another thing you REALLY don't want in an economy is instability. Aka, Bitcoin's fundamental nature, because it has no fundamentals and no attempt at monetary policy. Economies are fundamentally unstable. If you do not regulate them, they swing wildly. The faster an economy moves - and economies keep moving faster as technology advances, it no longer takes half a year for goods to arrive on a sailing ship or weeks to communicate with the other side of your country - the more unstable it is. This is terrible for both individuals and businesses.
What you want in an economiy is:
* Stability
* Low and steady inflation - a couple percent, to encourage spending, slowly devalue debts, and encourage investment. Too much is bad. Too little is bad.
Re: Nothing backs it (Score:4, Informative)
And also an inflationary currency is a very bad thing.
I agree with your points completely, but just as a pedantic note, when the value of a currency increases, this is deflation, not inflation. Inflation is when the price of goods, measured in currency, increases. So if the price of currency goes up, that's negative: deflation.
Deflation turns out to be actually very bad, because it means people would rather hold currency than spend it, and that kills the economy. Fortunately, the deflation of bitcoin doesn't kill the economy because people simply use other things as currency.
(William Jennings Bryan's famous "Cross of Gold" speech of 1896 was in some ways about deflation: the supply of gold, which underlaid the dollar back in 1896, couldn't keep up with the growth of the economy, and the fact that the currency was increasing in value was killing farmers.)
Re: Nothing backs it (Score:1)
I think that deflation is overhyped. First of all, most of our economy is service based, and another huge portion is based on immediate needs - food, water, electricity, shelter. These things you generally purchase at whatever the price is now.
The portion of the economy that is driven by "durable goods" that are optional purchases that can be delayed is smaller. And then, prices are never the price. The true price is some vague number because there is always a sale just around the corner and only a small po
Deflation [Re: Nothing backs it] (Score:3)
I think that deflation is overhyped.
Wow, I've never heard anybody suggest this. Deflation is almost never discussed; it's hard to consider it "overhyped" when nobody thinks about it at all.
There's a reason nobody cares about it these days: deflation simply isn't a problem with government-issued fiat currency. If there's not enough currency in circulation, just print more, problem solved. There are many problems that you can't solve by simply printing more money (or, more accurately, problems of which if you try to solve them by printing more
Re: Nothing backs it (Score:2)
Thank you
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You have that entirely backwards.
An inflationary currency is money whose value decreases and purchasing power drops over time, leading to higher prices. Fiat currencies are intentionally designed to be inflationary to encourage spending rather than hoarding cash
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Yes, you're the second person to point out the typo, which would have been edited within seconds of me clicking "submit" if we had an edit button.
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There is an economy underpinning Bitcoin as well, of sorts. But it's tiny.
Re:Nothing backs it (Score:4, Informative)
The value of money is determined by the economy that underpins it. That is why the US is hell-bent on ensuring that the dollar remains the currency for international oil trade. That's also why governments can print a little extra money without triggering inflation, if there is economic growth.
In fact, the government has to print more money if there is economic growth. Ideally, the money supply would grow exactly as the economy grows.*
*Unless the velocity of money changes.
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Money is pretty similar, if people don't want it the value collapses to nothing
People don't want money... in what world? No most of the problems with money have typically occurred on the supply side. Virtually all examples of currency collapse are due to government financial mismanagement.
but the difference is there are evil entities constantly reducing its value
Tell us you don't understand basic economics without telling us. A currency which doesn't depreciate (slightly, the ideal target is 2-3%) causes economic depression as it promotes hording rather than being used to transfer wealth in a way to promote economic activity. There's nothing evil about curre
Re:Nothing backs it (Score:4, Interesting)
You're right about Bitcoin, but in regards to the dollar, there are a couple of common misconceptions.
The phrase "full faith and credit" does not refer to a guarantee that you can pay for things with dollars, but rather, refers to the government's promise to repay in full any money that it borrows.
The gold standard never worked as well as people today think it did. It resulted in an unstable money supply; gold booms resulted in inflation, while times of gold scarcity resulted in deflation. Similarly, the dollar tended to deflate during times of economic expansion, as a result of the gold standard. The Great Depression itself was made worse (more severe, and longer) by the gold standard, because it wasn't possible to inject more money into the economic system, and forced wage cuts. Great Britain, which left the gold standard in 1931, recovered from the Great Depression much more quickly than the US. One the US left the gold standard in 1933, it too began to recover.
Regarding Bitcoin, you are correct. It has no underlying value.
Re: Nothing backs it (Score:2)
I fixed that for you. Can't wait for the mental gymnastics fiat supporters have to go through to explain how inflation is good for the economy
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The economy relies on money circulating around. You need to spend money on stuff which will keep the economic engine going because that money then gets spent on other things and so on.
Now, there are actually 4 events - deflation, zero growth, inflation, and hyper inflaction. All except inflation are bad. Deflation is bad because it encourages savings - why buy a loaf
Re: Nothing backs it (Score:1)
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Once the quantum computers can break the verification encryption (if they haven't already, which is quite likely down in the black labs).
It is not. The days in which very expensive, proprietary hardware could run rings around off-the-shelf hardware are over, and as of 2026 it still remains to be seen whether QCs will ever amount to anything beyond lab curiosities.
So we're halfway down to true value... (Score:3)
It will be interesting to see which whales break first and start to unload their portfolios into something with actual value. It's only a matter of time. And now that the regulators have begrudgingly wrapped a thin veneer of governance around the trading of these "instruments" it will be even more interesting to see who skates and who winds up in jail when it all falls apart.
Bitcoin is like gold (Score:3)
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There's a second difference. When the collapse happens bitcoin has no functioning floor to its price. Gold however will settle to where it was before speculators went batshit crazy with it as its industrial uses and general desirability set that price.
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There's a second difference. When the collapse happens bitcoin has no functioning floor to its price. Gold however will settle to where it was before speculators went batshit crazy with it as its industrial uses and general desirability set that price.
True, except that gold's actual usage price -- for industry and jewelry -- hasn't been its trading price for a very long time. As long as people have viewed it as a store of wealth its price has been inflated by that perception.
No wonder (Score:2)
BitTulip mania (Score:2)
--
agentic, sovereign, tokenized, quantum-proof, decentralized, orchestrated and cloud/blockchain hybrid.
How's El Salvador and Bukele Doing? (Score:5, Interesting)
Remember El Salvador in 2021? Moving to Bitcoin they were. It's gonna be yuge says Bukele and a few.
In late 2025 their congress stepped in and passed a new law to unwind all that shit as it continued to fuck over their economy and the IMF required it for yet another loan. And that was before things got really crappy in Bitcoinatopia.
I wonder if they were able to sell any reserves before a 50% crash and a total loss on their infrastructure build out($1.6B)?
HODL onto that bag!
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They continue to bet.
https://www.intellinews.com/el... [intellinews.com]
And They Continue To Lose Their Bets (Score:2)
The value of El Salvadoran Bitcoin holdings cited by that link are down 19% in the 30 days since the story was posted. And, as this Slashdot article points out, Bitcoin is down nearly 50% in the last year that caused them to beg the IMF for $1.4B.
Anyone unable to see that as a losing bet is beyond help.
But, as is so often the case with politicians, Bukelele doesn't care because he's losing other people's money, not his own.
Re: And They Continue To Lose Their Bets (Score:1)
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Well, shitcoin sure bests the Zimbabwe Dollar.
I'm HODLing my 100 Trillion ZWL [wikipedia.org]. It'll bounce back any day now, you'll see!
taxes (Score:1)
Sold when it hit 100k (Score:1)
Feel like a modern day Warren Buffett right now.
Bitcoin isn't about value (Score:2)
It's about being party of a wanky club.
Bitcoin is an example (Score:2)
Of how the pre central banking united states currency was. Or any asset backed currency for that matter.
One day a dollar was worth X, the next Y the following day it was worth H. Then those thinking because it was worth X then Y they were going to be rich when it hit Z, suddenly weren't.
This is why people at the time preferred to be paid daily, stashed it anywhere and everywhere. Then didn't even bother to retrieve it on the lows(and why any house or property dating to that time always has a handful of thes
Obligatory (Score:3, Funny)
Re: Obligatory (Score:3)
The only completely true statement to be found here.
There's less than a million left to mine (Score:2)
Flight to quality (Score:2)
The US has had price shocks with Iran and Russia and..... there was a flight to quality. To GOLD. The price of bitcoin sat flat, and then shrank, whereas the price of gold keeps going up and up. Bitcoin never really recovered after that. First real test of bitcoin as a store of wealth and it failed. It's never really recovered since then. Gold remains king.
I don't actually own any gold and don't have an interest in it, but it's been hilarious to hear people claim bitcoin was digital gold, and when p
Be very careful. (Score:2)
So be ready to get flamed if you're not all in.
Never mind (Score:2)
Bitcoin Never Had Value (Score:1)
Bitcoin = roulette (Score:3)
The best comparison to Bitcoin that I've heard is the game of roulette. No one wins a dollar from a roulette game that wasn't lost by another player, with the house (the miners) taking its cut for runnng the wheel. Bitcoin is just one giant game of roulette. The money passes from one player to another. If you get rich, it's only because other people walk away from the game poorer.
And of course, more roulette games can be started by other casinos at any time, just as anyone can create a new cryptocurrency. Some of those games gain their own audience; other die out for lack of players. The parallel to cryptocurrency is exact.
But at some point, people have to realize that sitting at a roulette table isn't investing - it's gambling. You're hoping that you'll be luckier than the other players, and that more suckers will keep walking up to play. And fundamentally, I think that's part of what's happening to Bitcoin - with so many cryptocurrencies out there, it's finally percolating into the public consciousness that Bitcoin isn't money, and it isn't an investment - it's just gambling, except that it isn't as honest as a roulette table at Vegas. The Bitcoin whales manipulate the market to fleece the suckers, and will keep doing it as long as more suckers show up.
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Bitcoin: the N-Card-Monty (Score:2)
“In 2013, thousands of people became convinced they had to get in on bitcoin before it changed the flows of capital around the world. Like most schemes of dubious merit, the sexy intrigue of incalculable calculus combined with no central oversight suckered them in.”
Wait wait let me do one (Score:2)
See you guys at sub $20k -Apologies in advance.
Reserve of value (Score:1)
Plot a 200DMA graph of Bitcoin and you see by yourself.
Nothing special about this drop.
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Surely it only snowballs from here? (Score:2)
There's a lot I'm probably missing but it seems to me that as Bitcoin only has value in so much as people believe it has value then once it starts falling past a certain amount it can only plummet from there.
The more it drops the more people freak out and sell and the more people sell the more people lose interest and so on. The more this happens it becomes virtually impossible to draw in new people to invest so the ability to prop it up disappears.
I'm sure the whales will push Trump to try and do somethin
Bitcoin IS backed by Michael J. Saylor (Score:1)
Bonus Obligatory (Score:3)
Diamond Hands (Score:2)
Buy the dip.
The bigger picture (Score:2)
I'm still waiting (Score:2)
for anyone to explain the "value" of bitcoin, excluding tap-dancing around "money laundering, tax avoidance, and illegal purchases".
So it does have value (Score:1)
If everyone agrees it lost half itâ(TM)s value then it stands to reason everyone agrees it has value
Even $60,000 is super great for something I threw away in around 2010 or 2011 along with my old HDD. After hiding an old unused office PC, headless, under my desk to mine them 24/7 for like a while year. Switched it to Seti@home