Bitcoin Drops Over $1000 As Cryptos Go Red For Week

Following yesterday's exciting ramp, cryptocurrencies are tumbling today (down 6-8% overnight)..

A major seller appeared around 5amET...


And back in the red for the week.


Bitcoin is down over $1000 from its highs yesterday...

The move does not seem to have been driven any specific news catalyst.

Google Trends data show searches for bitcoin have fallen by 80 percent.

The last time google searches were this low in relation to bitcoin, the cryptocurrency was valued at $5,000.

And as CoinTelegraph reports, Harvard professor and economist Kenneth Rogoff implied Bitcoin only had value because of its use in “money laundering and tax evasion.”

“I would see $100 as being a lot more likely than $100,000 ten years from now,” he said, continuing:

“Basically, if you take away the possibility of money laundering and tax evasion, [Bitcoin’s] actual uses as a transaction vehicle are very small.”

Rogoff joins a diminishing number of traditional finance figures still maintaining a firm anti-Bitcoin stance.

Additionally, CoinTelegraph notes that Bitcoin’s sideways price action has led to the lowest number of confirmed transactions per day since March 2016, according to

Data shows BTC transactions falling in line with downward trends in price since the all-time highsof December 2017.

The number of transactions reached a two-year low on Feb. 26 with only 180,000 confirmed transactions, while Sunday, March 4 saw just 195,500.

The slump comes at a time when Bitcoin struggles to regain the sky-high USD value it achieved late last year, when it reached $20,000 on some major exchanges.

Despite the release of support for Segregated Witness (SegWit) technology by Bitcoin Core and exchanges Coinbase and Bitfinex in February, faster and cheaper Bitcoin transactions appear to interest investors less than overall trading potential.


rejected Tue, 03/06/2018 - 14:32 Permalink

Get more suckers in,,,,, sell

Get more suckers in,,,,, sell

Get more suckers in,,,,, sell

Get more suckers in,,,,, sell

Get more suckers in,,,,, sell

Liquid_Silver Umh Tue, 03/06/2018 - 14:49 Permalink

just to remind you I sold 30% of it and took back my investment plus 100% and still up about 500% in a year.. how was your gold doing in the last 5 years?  At this point, if BTC goes to $0 tomorrow, I am still up 100% and already took profits.. so keep bashing you bunch of m0r0ns

In reply to by Umh

Liquid_Silver lester1 Tue, 03/06/2018 - 14:51 Permalink

you only a tard if you are up 1500% in less than a year and didn't take some back to take profits. And why would you pathetic gold holding losers kept thinking crypto investors never take profits from up 10-20X in a year? unreal! oh right you guys are so used to lose money yearly, have no clue what making profits is like... lol

In reply to by lester1

inhibi Liquid_Silver Tue, 03/06/2018 - 17:46 Permalink

I bought BTC @ $32 about 7 years ago. Sold 1st @ $6000 and the rest at $14000. Im under 30 and already a multi millionaire.

I always thought it was BS, always thought it was made for drug dealers/shady activities, and still do. Its how I got into it - buying drugs on the Silk Road when I was 20 yo for raves and concerts. I was young and stupid back then, but smart enough to see a trend.

I call the trend the magic of hype - hype is essentially the new fuel for the markets that have completely and utterly deviated from any form of reality. Especially areas like tech & cryptos. Hype will bring your worthless sequence of bits from a garage to a $30 billion company, worth more than Ford in less than a THOUSANDTH of the time. 

It doesnt change the underlying facts that all it takes is a period of contraction and poof, its all gone. We are just replaying the .com bubble, except this time we had all that TARP/QE/Austerity bs that essentially handed over oodles of interest free money to people I wouldnt hand $5 to. And people think that the meteoric rise of BTC is indicative of its actual value? Laughable.



In reply to by Liquid_Silver

Cash2Riches rejected Tue, 03/06/2018 - 15:25 Permalink

More and more people will be looking for alternative routes over fiat. Fiat is destined to fail and people are going to do what they need to do to survive the next collapse. This includes gold, silver and now people are experimenting with cryptos. The latter of which isn't entirely proven.…

In reply to by rejected

HRClinton rejected Tue, 03/06/2018 - 16:15 Permalink

Listen up, you Ashki Bankster parasite...

It's not Tax Evasion. It's lawful Tax AVOIDANCE.

A subtle, but critically important difference.

When we leave your Fiat Slave Plantation, by going into Globally-Distributed Crypto ASSETS, we are "Going Galt" and have no further allegiance, debt obligations or contracts with your Fiat Debt Plantation.

GFY with a circum.cised 2x4!

In reply to by rejected

DillyDilly Tue, 03/06/2018 - 14:36 Permalink

BTC is gonna get technically battered as it's becoming apparent that there's a major struggle for it to even retrace 50% of the most recent high to most recent low...


That said, how much 'other cryptos' will follow depends on a lot of things...


BTC still has farther to fall than any other major crypto (and the fact that since the most recent lows, BTC has jumped from a 34% market share to almost 42%), means that something is gonna happen...


1. either ARBITRAGE (into other cryptos)


2. cash out (ALL CRYPTOS 472B total cap yesterday ~ it was 272 down near the lows)

lester1 Tue, 03/06/2018 - 14:39 Permalink

And wait until the IRS starts auditing all these Bitcoin tax cheats who think they're millionaires.  😄


The the IRS already subpoenaed Coinbase and other crypto exchanges for their records on users. And if you haven't reported your Crypto "gains" you're in big trouble.

HRClinton lester1 Tue, 03/06/2018 - 17:37 Permalink

What is this, Amateur Hour or "let's shill for Banksters"?

You only get taxed if...

1. You're a US PERSON and...

2. Have transacted on shitty exchanges like Coinbase.

You will NOT have to pay a forking penny, if ...

A. You're a Non-US Person, or become one by leaving the US, along with the right paper steps to satisfy the IRS. 

B. You move to a TFJ (Tax Friendly Jurisdiction) somewhere in the world and convert CC into fiat, via an exchange. The stay there or return some time later, after you've declared your fiat gains to the TFJ and paid miniscule taxes, leaving the rest Free & Clear in fiat land.

C. You use P2P exchanges to swap CC, the way hookers swap body fluids with clients: constantly.

D. You convert CC for any real asset, that is compact and portable: AU, Gems, Art, IP (Patent, Copyright).

E. You sell a real asset for cash (somewhere in the world) is also no one's business, when done in a private transaction. 

E.g. Say I bought a bunch of BTC from an Asian miner, for cash years ago, and then HODLed it till... last Nov/Dec. Then, let's say that I sold some of my HODLed BTC overseas, in a law office, for a stack of 0.9999 AU coins. This was a private exchange of Assets, that involved no fiats and no US tax jurisdiction.

You are now protected by the dual firewall of Jurisdiction negation and Total Info-Darkness. Let the IRS chase poor, dumb Schmucks, or the 47% who don't even pay taxes.

x x x x x x x x x

That whiney, BS and FUD-spreading little bitch "lester1" has no comeback for this of course -- cause there is none -- but that won't stop him/her from repeating his/her whiney bitch act tomorrow. Cause he/she just can't help himself.

In reply to by lester1

HRClinton VAL THOR Tue, 03/06/2018 - 18:04 Permalink

1. Now I KNOW that you're not Val Thor!  The real V.T. would never have made such a retarded comment.

2. As for your uni-brow claim... I love looking at the stack of 0.9999 AU I got for some of my HODLed BTC last Nov & Dec, while in .de and .ch.  And the 5 IG (investment grade) diamonds I got in .nl  Or the nice condo I bought in .ch, for when TSHTF in the US.

Still got BTC, and this is after I traded some for other Top-10 CCs. Just to spread the risk/rewards asset allocation.

Now tell us again about Beanie Babies, bozo. I need a good ROTF LMAO at someone else's expense.

In reply to by VAL THOR

DillyDilly lester1 Tue, 03/06/2018 - 15:02 Permalink

What's the value of 'STABLE'?


Silver went from $50 to $14... IOW ~ it lost 2/3 its value... Barely recovered, still, so far off the 14...


BTC went from 20K to 6k... I won't split hairs on the percentages, but roughly the same... Within a month, it was back looking at 12K (a double)...


If Ag had gone from $14 to $28 (2 years ago, yeah, you'd have had your double), INSTEAD, it's $16...



In reply to by lester1

adr Tue, 03/06/2018 - 14:47 Permalink

Utilities aren't going to allow miners to pay the going rate any longer. They'll slap extra fees and usage charges on them making mining unprofitable. A mining operation that causes a brownout or blackout will be erased. New Yawkahs don't take kindly to their A/C not working in the summer.

Apollo55 Tue, 03/06/2018 - 14:48 Permalink

If you see Cleptos going up again means that they are propped up by the same entities who are manipulating the stock markets gold silver etc etc, and... we all know who they are. So ask yourselves why they have not yet outlawed the Cleptos????

Archimedes02 Tue, 03/06/2018 - 15:09 Permalink

Are you sure you are not just salty because you have realized that are an idiot that didn't see the value when others did? You bought in to the system hook line and sinker and people are leaving the system because it's dying, and has been dying for almost 100 years, lol. Btw, what do you think you can buy for a dollar in 10 years compared to 10 years ago...20 years ago...50 years ago...?

qr259100 Tue, 03/06/2018 - 16:06 Permalink

CloudCoin will own this market in a few years. CloudCoin is ready made for transactions. Bitcoin is a fantastic idea as it potentially gets the money out from under the control of the governments. But it has flaws. The block chain is getting to big to handle so transaction times are getting longer, new quantum computers will be able to crack the encryption and are probably already doing it. It isn’t truly private the public ledger is, well public. I could go on.

For a full analysis of the differences between Bitcoin and CloudCoin and the flaws of the block chain check this site out. CloudCoin

Get a free book called “Beyond Bit Coin” and 5 free coins here.

Currently CloudCoin is making good on the claim it made at its original release as a currency that it could seamlessly be imported and exported in and out of software including video games with the release of the of its new “CloudBank” software.

“CloudCoin's CloudBank software has entered beta testing. The software will allow websites and applications to accept CloudCoin as payment, allow for the exchange of CloudCoins within games and other virtual environments and even facilitate check writing and paying bills.” From CloudCoin Weekly Bulletin.

This new feature is to be presented at the International Game Developers Conference in San Francisco, Ca in March.