The fast rising e-currency Bitcoin prices fell from a high of $1,240 to a low of $870 this morning. This is according to data from Bitcoin exchange Mt. Gox.

That $370 drop can by characterized as a 30% crash.

Earlier today, the People's Bank of China warned that the controversial electronic currency carried risk. It also instructed financial institutions not to trade it.

For me, i can only hold the exact amount i would use for transaction and not as a store of value because once bitten twice shy...Who remembers e-gold and recently Liberty reserve.

I wonder if Paypal has something to do with this.

http://gidilink..com/2013/12/is-bit-coin-crashing-out-so-soon.html

it will rise up again, Bank of America recently released a report that Bitcoin could one day be a major means of payment and the fair price should be $1,200

http://www.theverge.com/2013/12/5/5178536/bank-of-america-says-bitcoin-could-become-a-major-means-of-payment

bitcoin is too expensive

blink182: bitcoin is too expensive

There are cheaper alternatives to Bitcoin.