Bitcoin is being sold aggressively on heavy volume as this headline hits:
- *BAIDU SUSPENDS BITCOIN PAYMENT ACCEPTANCE ON VALUE FLUCTUATION
And the official, google-translated announcement from the BIDU website [4]:
[5]
This is one of the reasons Citi and BofAML noted as 'disadvantages' [6]and it seems Baidu agrees (for now).
and as a reminder...
[7]
It appears Mt.Gox has crashed trying to handle a very large sell order... and the resulting algo mess is as follows...
Chart: Bitcoinwisdom