Bitcoin Slammed As Baidu Suspends Payments Due To "Fluctuations"

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:

This is one of the reasons Citi and BofAML noted as 'disadvantages' and it seems Baidu agrees (for now).

 

 

and as a reminder...

 

 

It appears Mt.Gox has crashed trying to handle a very large sell order... and the resulting algo mess is as follows...

 

Chart: Bitcoinwisdom