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RE: Morning Bitcoin Summary: Down 16.36% ☹

in #bitcoin7 years ago

Bitcoin does seem to have some bubble properties. The utility argument only fades in time as other coins come to dominate in features and purpose. The Bitcoin brand also begins to falter, becoming more diluted with each hard fork. This current sell-off is a necessary correction for Bitcoin. Regarding the larger cryptocurrency space, the week of downward news from China and elsewhere brings some additional pullback across all levels, and Bitcoin is the industry's leading indicator.