Bitcoin continued a steady rise into 2016 staying just above $400 until the last part of January when a bitcoin core developer proclaimed bitcoin a failure insinuating it had died for the 89th time in the last 7 years. The rant caused a price drop to $360 for the first time in 2016 but it quickly rallied back barely above $400 for a brief period before settling around the $380-$390 range.
Earlier this week the price dropped again as low as $364 and stayed in the 360's for two full 12 hour trading periods before pulling back into the 370's where it appears to be holding steady for now at $376.65. Being notorious for slipping over the weekend, bitcoin may slip again before Monday morning.
When $500 seemed just within reach, it feels as if an entire quarter of slow movements to get to $450 got obliterated in an afternoon of "rage quitting" that has proven to be a struggle to recover from. However, that's not Mike Hearns fault, not fully anyway.
No ... you can chalk that one up to the mainstream media.
Story by dinbits
image by dinbits staff