From FT Alphaville:
Remember the halvening? That quite silly made-up word that was meant to send bitcoin to the moon and beyond this year because of, like, the basic rules of supply-and-demand economics (ahem)?....MUCH MORE, some of it borderline vicious.
Well it wasn’t due until May, but it turns out the halvening has come early. Or a halvening of sorts, anyway. Not the halvening that’s set to cut the supply of newly minted bitcoins into two (a bit like tapering in a QE scenario), but a halvening that has cut the price of bitcoin into two.
Bitcoin plunged to a 10-month low of around $3,850 overnight on some exchanges a more than 50 per cent drop in the space of 48 hours -- before edging up to around $5,500 at pixel time. That still marks an almost 50 per cent fall from levels close to $10,500 a month ago....
And the commenters? Hooo boy, a few seem very cranky.
