Coinbase is now showing a bid-ask spread of $293.80-$294.22. That puts Bitcoin (COIN, OTCQB:BTCS) over 55% below its June highs, and roughly 75% below its late-2013 all-time highs. Plenty of theories are being thrown around to explain the decline. Bulls argue a stronger dollar is taking a toll, as is dollar conversion by the growing number of merchants\/platforms accepting Bitcoin. Bears argue a speculative bubble is bursting, with the total value of Bitcoins in existence falling towards a level that reflects their actual usage (still relatively low). Bitcoin Watch states Bitcoin's total market cap is now just slightly above $4B. 852K Bitcoins (current value of $250M) were sent over the last 24 hours. Fred Wilson, still an ardent believer in the cryptocurrency, has observed Bitcoin's 2-year chart bears some resemblance to Gartner's diagram for the hype cycle surrounding important new technologies. Share this with a colleague<\/p>\n
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Bitcoin prices dive below $300<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Coinbase is now showing a bid-ask spread of $293.80-$294.22. That puts Bitcoin (COIN, OTCQB:BTCS) over 55% below its June highs, and roughly 75% below its late-2013 all-time highs. Plenty of theories are being thrown around to explain the decline Continue reading