Bitcoin Plunges Into Bear Market

From it's gold-matching highs at $1242 on Thursday night, the price of Bitcoin has collapsed 31% to $868 on heavy volume. Of course, this is only a one-week low for the exuberant digital currency but still a significant plunge (as its smaller brethren Litecoin has collapsed 51% from its highs). Interestingly, this drops the price of Bitcoin in USD below the 'arb'-based price of Bitcoin in China ($965). It seems, all coincidence aside, that the BIS infamous plunge-protection-team has been re-trained…



and as BTC collapsed, Gold rallied…



Chart: Bitcoinwisdom


via Zero Hedge Tyler Durden

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