Not-So-Funny Money: Bitcoin’s $2,000 Plunge Panics Netizens


Not-So-Funny Money: Bitcoin’s $2,000 Plunge Panics NetizensCC0World08:45 22.12.2017(updated 10:05 22.12.2017) Get short URL662

The exchange rate of the most popular cryptocurrency in the world, Bitcoin, fell 18 percent against the US dollar to $13,030 in one day, according to the price tracking site CoinMarketCap.

Last Sunday, Bitcoin reached the $20,000 mark. Thus, compared with record levels, its exchange rate has shed 30%.

The alternative cryptocurrency Bitcoin Cash has decreased by 30% — to 2,536 dollars.

On Tuesday co-founder Emil Oldenburg said that Bitcoin has no prospects as a trading currency, and Japan’s finance minister, one of the few countries where Bitcoin is legalized, said he does not consider it a reliable asset.

READ MORE: They See Me Rollin’: How Winklevoss Twins ‘Turned Ridicule’ Into Bitcoin Fortune

The fall of Bitcoin caused “panic” in the social networks.