Last week, Bitcoin’s value tumbled 9% in one day on news that China’s central bank had ordered banks and payment companies to close trading accounts belonging to more than 10 exchanges. Since then, Bitcoin has crashed by nearly another 10%, now hovering around $480. It’s a steep decline from the feverish highs above $1,100 last November. Ominously, general interest in Bitcoin is declining sharply, regardless of the recent turbulence. Google Trends shows that even though you would expect the break below the $500 level to generate a lot of curiosity, the search volume for “Bitcoin” is actually far below where it was in late February, when the pseudo-currency dropped below $600. The drama swirling around Bitcoin is not dissipating at all. Recent items on Chinese central bank
The most ominous Bitcoin trend
03
Apr
2014
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