Bitcoin Bloodbath As Mexican Peso Surges After Central Bank Intervention

Tyler Durden's picture

Following yesterday's 'panic' among mexican officials that Trump has considerably more leverage than the elites believed, the peso is soaring suddenly this morning as Banxico intervention took place. At the same time, following comments from official reserachers in China on capital controls and crackdown on 'virtual' outflows, Bitcoin is getting hammered - biggest drop in 2 years.

Initially it was speculation but now Bloomberg confirms a comment from the central bank:


Something just snapped...


This is the biggest drop in Bitcoin in 2 years and biggest rise in the peso since 11/15.

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BigWillyStyle87's picture
BigWillyStyle87 (not verified) Jan 5, 2017 9:10 AM

Double top and drop to the floor? Obviously to early to call this one but Peter Schiff may have been right again in his podcast from 10 hours ago LoL

bamawatson's picture

lightly battered
with a sprig of parsley

UndergroundPost's picture

Just the first of many coming "batterings" of bitcoin that will demonstrate again (and again and again) that any cryptocurrency that can be regulated by central banking alchemists is doomed. Bubbles will be bubbles.

aPlayer's picture

According to Tickmill recent note it is good time to start positioning for a long-term GBP and EUR strength against the USD in light of overextended move in the USD over the past months and also uncertainty that will come with the inauguration of Trump.

Dame Ednas Possum's picture

Dregbin Douchebag III... calling Phonestar fanboy Dregbin Douchebag...

Front and centre you fucking weasel... it's your turn in the pit.

Flash007's picture








Draybin Deffercon III's picture
Draybin Deffercon III (not verified) Flash007 Jan 5, 2017 10:50 AM

Yeah W0W hey? Bitcoin is ONLY $960 USD today! Boy do I sure wish I listened to those brilliant minds in the comment section of! What a moron I am!

"Bullets and beans Jimmy! Bullets and beans!"

2_legs_bahhhhhd's picture

How much are you up if you bought off exchange yesterday morning at 10am?

Draybin Deffercon III's picture
Draybin Deffercon III (not verified) 2_legs_bahhhhhd Jan 5, 2017 10:59 AM

Guess it depends which exchange and I also don't care. I've only sold BTC a few times in the past few years to help pay bills, etc..

2_legs_bahhhhhd's picture

DD, The correct answer is negative 35%. Just a small scratch, should just buff right out.

Dame Ednas Possum's picture

Right on cue butt-sore Buttcoin boy.

Fishy little fish brain couldn't resist the bait.

Thanks for the chuckles Brewster... and thanks too for the string of '-1' down votes through the thread. More treasure tears to place in the treasure chest.

Guess you'll be staying in Mommy's basement for a few more years and the private island will have to wait just a little longer.

Now put your iPhone down and go and change the cat litter... then mumma needs a foot rub.

cowdiddly's picture

Oh fonestar, come hither boy with your pearls of wisdom.......... "whats in your digital wallet?"

looks like ether to me. just sayin. smatter got the vapors?

guess the down payment on the mega yacht got put on the back burner for a while. a fool and his buttcoins......

Draybin Deffercon III's picture
Draybin Deffercon III (not verified) cowdiddly Jan 5, 2017 10:38 AM

Hey fucking retard.... don't you think if Bitcoin "crashed" nearly as much as ZeroBRAINS said it did, that Bitcoin would have a NEGATIVE "dollar" value by now?

Oh right... y'all "finance wizards" too st00pid to even figure that much out!

Ecclesia Militans's picture

So sovereign debt is the safest debt, and US sovereign debt is the safest of all based on the MIC and its ability to defend the Dollar.

Bitcoin is issued, backed and defended by who again?

Not trying to be an asshole, just sayin'....

EDIT - responded to the wrong avatar.

Pseudonymous's picture

> So sovereign debt is the safest debt, and US sovereign debt is the safest of all based on the MIC and its ability to defend the Dollar.

Especially in the nuclear age? And asymmetric warfare age? Keep pushing that luck with millions of pissed off people all around the world and see what it prompts. But it doesn't even have to come to that to sharply turn the trend on sovereign debt, when the sovereigns are so heavily dependent on so many things, especially the central banks, who may decide that they don't need any of these governments anymore. The Dollar itself (actually the Federal Reserve Note) may be safe for some time, but not thanks to the MIC. It would be fun to watch.

Bitcoin is a manifestation of the fact that you don't need physical force to defend a currency in the digital age. Moreover, it does things much better than the "dollar" ever could, by being issued by anyone who puts work into, you could say, defending Bitcoin (that is computational work which defends it against attacks in the digital realm).

Draybin Deffercon III's picture
Draybin Deffercon III (not verified) Dame Ednas Possum Jan 5, 2017 10:36 AM

"Dregbin Douchebag III... calling Phonestar fanboy Dregbin Douchebag...

Front and centre you fucking weasel... it's your turn in the pit."

OH NO! It's all over now for Bitcoin right you dumb moldy cunt??

cowdiddly's picture

hey douche, when your playing with a dead cat in a rhino horn better at least wait until the dead cat bounce is over.

See thats the thing about us 'barbarians'. If the relic drops much more than say 3% in a day some equally barbaric asshole comes with a battleaxe and takes out the entire bidstack for DELIVERY.

But buttcoins? Ha good luck trying to pick that fair value bottom you fucking idiot.

Draybin Deffercon III's picture
Draybin Deffercon III (not verified) cowdiddly Jan 5, 2017 10:49 AM

Fair value is what the market assigns to an asset. That means any asset, not one that you want to get married to like gold.

cowdiddly's picture

go catch your falling knife worm. Im going to drink my coffee and take a nap.

Draybin Deffercon III's picture
Draybin Deffercon III (not verified) cowdiddly Jan 5, 2017 10:51 AM

Why do I need to "catch" anything? I bought my last BTC around $800 and haven't sold anything.

RockRiver's picture

Just the first of many coming "batterings" of bitcoin that will demonstrate again (and again and again) that any cryptocurrency that can be regulated by central banking alchemists is doomed.


Bitcoin isn't doing anything the dollar, or any other currency, hasn't done in the past.  

...and I am no fan of Bitcoin either. I don't like relying on electricity to make my money.

MANvsMACHINE's picture

BTC is up ~50% the past month, even after today's drop.

Draybin Deffercon III's picture
Draybin Deffercon III (not verified) RockRiver Jan 5, 2017 10:56 AM

Great, Bitcoin doesn't "rely on electricity" and anyone who took 3 minutes to read anything understands that.

no ice's picture

You're uneducated on the topic and are probably getting your info from trolls and shills who have a vested interest in keeping the slave/debt system that we are currently under.  Bitcoin will go to one million dollars.  Buy now.  It's currently under 1,000 dollars. Now is the time to buy, actually a couple years ago was the very best time to buy-but, it's going up and up from here.  Coinbase seems to be a good company. Connect a debit Shift card to your bitcoin account.  The Shift card can be used anywhere Visa/MC is used, like at the grocery store....  Here's a great 5 minute video about Bitcoin's future:


illuminatus's picture

No, time to buy when it was less than a buck. Sorry to say I missed that boat. But the main trick as with everything else is like the olf Kenny Rogers song goes.." You gotta know when to hold 'em, know when to fold 'em....

MANvsMACHINE's picture

You know this how?

I am no expert so for all I know it can go zero tomorrow but what are you basing your assertion on?

illuminatus's picture

No need to base it on anything. If you were one of the lucky ones that bought a few thousand bitcoins when it was under a buck, you sell 20 or 30 today and have enough cash to buy your hookers and blow for a week or two.

Trubador's picture

Yep. If someone bought 100 bitcoins at $1 when it first hit, then sold them yesterday at $1100+, they could have converted that into 100 Toz of Gold. Now THAT would've been a smart investment!

Draybin Deffercon III's picture
Draybin Deffercon III (not verified) UndergroundPost Jan 5, 2017 10:41 AM

How does this demonstrate that Bitcoin "can be regulated" you imbecile?

Because 3 or 4 Hu, Chu, Wei or Toe sold somewhere on Earth? Sorry, what was the mental weakness you were trying to get across again?

RedDwarf's picture

This made no sense, BTC is not regulated by central banks.  Of course it will go through adjustments as they change their policies with other currencies, BTC does not exist in a vacuum, but it is not directly controlled by them.

VinceFostersGhost's picture



Good as bitcoin......



Justin Case's picture

Who's bold enough to BTFD here?

Anyone care to put Fibonacci numbers/lines on this one, where the possible support levels and retrcements are?

Save_America1st's picture

I only dabble w/ a few BTC that I've had for a few years now by using Coinbase and Blockchain
What should be very disconcerting to all is what started happening yesterday and today in that both of those websites are having major problems. Twice yesterday for a couple hours I was unable to access either site at different times. Could not get to the website or the application on my phone to either of them.
This kept me from being able to verify the accounts or to sell or buy more btc.
As we all know, if you don't hold it, you don't own it. And this is the major flaw w/ crypto.
I only have a little in order to learn and to see if I get lucky one day and can use some profits to flip into phyzz PM's.
Yesterday would have been a good time to sell and buy cheap phyzz, but just as we've all discussed on here 1000's of times, if the good 'ol interwebs goes down then BTC holders are totally fucked.
We all know what happened with Mt. Gox a couple years ago.
Oh, and both Coinbase and Blockchain had no way to contact anyone for information either. It's not like they have "customer service" folks taking calls to calm you down and let you know everything will be okay, lol.
You're pretty much in the dark and fucked until things hopefully come back online again.
Not a good feeling even if you only hold a little bit of BTC.
Just think if you had tons of it that you got into cheaply years ago and then,'s gone. Not fun

Justin Case's picture

Very true concerns. The exit doors maybe closed to you while others stream out. You are left behind. Now imagine you are say on vacation and need to pay for a hotel room or a big ticket item like a flight? You miss yoar plane and stay till there is a seat available?

The bitcoin is still a speculation vehicle, not a currency or a store of value. If the internet is working it's okay to do a transaction, buy and sell it ASAP as you never know how much it really cost you as the value fluctuates wildly.

Save_America1st's picture

yep. No I'm not panicking too much because I think at this point the issue will pass and they will get things back up. Plus I only have a few and have held onto them just to keep myself "interested" in the whole process as crypto "progresses" through these growing pains.

But as an update further at this time, I now can not access my Coinbase application from my phone. It no longer recognizes my phone/device. When I log back into it, it then emails me a verification email link that I'm supposed to click to re-authorize my device, but that also fails.

So access by app is a total fail at this point. Their website is still getting monkey hammered as well. It only comes up "live" for a few seconds or else if it doesn't it then re-directs to an older archived version of the page.

I've tried to log in when it's "up", but those attempts end up failing after the page clocks for a few minutes and then drops the process.

Edit: It did just let me sign into the page, but then after enter the 2-factor auth code that it texts to my phone (even though the app won't recognize my device, lol), the website then gives an error that it doesn't recognize the device/PC that I'm trying to log in with again.

No real big deal for me...I'm not trying to sell what little I have...I'm just running through tests to see how bad the situation is.

And it's not good...especially if I was someone who had a lot tied up in these things. I don't want to sell and so I'll probably just hold and watch and see how this year goes or until the whole fucking thing crashes and burns.

But this should be a YUUUUUUUGE lesson for all, no matter who you are, whether a newbie or a long time holder of crypto.

I'm sure the Tylers will be posting a lot of info in the days to come and I can't wait to hear all the inside info.

JRobby's picture

None of the exchanges seem to be equipped to deal with sudden massive volumes. Identities of the ordering parties is not something that can be whined about.

Reminds me the NYSE and some other equity markets exchanges? Oh!? Wait a second!?

vega113's picture

maybe this is because record high transactions volumes? According to 24h volume for BTC was 450 million $ - insane high compared to 30-50 million on usual day.

stacking12321's picture

That's why you hold the bitcoin yourself in your own wallet instead of storing it at some website!

Save_America1st's picture

I have some of them held on the other site called Blockchain.

It's up this morning, but last night it crashed out for a couple hours.

I realize there are paper wallets and that there are now little zip drive wallets that you can extract them to.

I just haven't yet experimented with those yet. Like I said, I'm just a dabbler in this...but the concerns are still valid for everyone w/ crypto.

Kaervek's picture

With a paper wallet you're not dependent on any website whatsoever, simple as that.


no ice's picture

I had no problems connecting with Coinbase yesterday.  Watch this video from those who truly understand Bitcoin:

Your thoughts on electricity/power outages relates to everything, not just bitcoin.  Everything is electronic.  If you keep a bundle of cash on yourself then you might be able to buy something if your local store has not lost power.  Your bank account is no safer than a bitcoin account.



JRobby's picture

"We see now, when it is too late, what we are up against"


illuminatus's picture

which brings us right back to real stuff. Cash gold silver food water land guns ammo whiskey fuel skills....

Draybin Deffercon III's picture
Draybin Deffercon III (not verified) illuminatus Jan 5, 2017 10:47 AM

Yeah cryptography "is not real" right you moron?

ZH Snob's picture

the bc market was getting too hot anyway.  this bargain drop will just create a new buying opportuinity soon anyway.

Bay of Pigs's picture

At what price is it a "bargain"? At $900 or all the way back to $200?

ZH Snob's picture

I guess that is for the market to decide.

Bay of Pigs's picture

Yeah, the Chinese market where the vast majority of all BTC trades occur.

Son of Captain Nemo's picture

"I guess that is for the market to decide."

I take it that means that "Max Keiser" is either happy or really worried!!!

Justin Case's picture

The market only determines the price. The buyer must determine when it's a bargoon to purchase. You have a 50/50 chance of being right when you buy it. Trick is when to buy it.