Oh, no! China provokes another bitcoin crash

williams11-150x150Los Angeles Times
Mark Williams, School of Management

Following our post a couple of weeks ago on what we termed the “bitcoin crash of 2013” — the virtual currency had lost half its value in a day — we started receiving daily updates from bitcoin believers documenting its climb back to $1,000-plus from its lows in the $600 range…

Expert quote:

“The Bitcoin bubble has burst and China was the pin that popped it. The latest move by China puts into question the viability of Bitcoin as a currency alternative and as a liquid and safe commodity.”

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