http://libertyblitzkrieg.com/2013/12/18/my-thoughts-on-last-nights-btc-crash-and-a-guest-post-on-why-bitcoin-will-succeed/#more-9854
I haven’t seen action in Bitcoin like we saw last night since earlier
this year in the spring when the price went from $10 in January to $260
in April, and then crashed down to $50 before stabilizing in the
$80-$120 range for months before beginning the latest parabolic move. I
was so taken by the action in BTC China last night that I wasn’t able to
sleep until 5am Rocky Mountain time, trying to buy what I could at the
best prices possible. I saw every single tick. It was a crazy evening.
Yesterday I posted that while I thought BTC was at the lower end of the range at $650, there was the potential for some near-term headline risk.
I thought that it might come from the U.S. banking system, but instead
it came from China when they banned new renminbi deposits into the
leading global exchange BTC China. While I am not saying that the price
will now quickly launch to new highs, there was complete and total panic
in the air last night. No question about that. In addition I tweeted
that:
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