Wednesday smelled like doomsday once again for bitcoin. Bitcoin is the world’s most famous digital currency and it plummeted more than 10%.
Bitcoin dropped below $6,000 which is the lowest level since October 2017. This is the third-largest decline of 2018, only topped by the 16.5% fall on Jan. 16 and a 15.5% slide on Feb. 5, according to Dow Jones Market Data.
Barry Silbert who is a voice for bitcoin and an early adopter was shocked. He tweeted one word. capitulation. The definition of which is the action of surrendering or ceasing to resist an opponent or demand.
So all in all, bitcoin is down, people who have lost money are running away and only the diehard fans appear to be left holding the rotting sack. But the question is, for how long?
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