Bitcoin being sold off as Baidu halts payments due to ‘value fluctuation’ – another ding in the credibility of the new digital crypto currency.
Bitcoin is being sold aggressively on heavy volume as this headline hits:
- *BAIDU SUSPENDS BITCOIN PAYMENT ACCEPTANCE ON VALUE FLUCTUATION
And the official, google-translated announcement from the BIDU website [4]:
[5]
This is one of the reasons Citi and BofAML noted as ‘disadvantages’ [6]and it seems Baidu agrees (for now).
and as a reminder…
[7]
It appears Mt.Gox has crashed trying to handle a very large sell order… and the resulting algo mess is as follows…
Chart: Bitcoinwisdom
Further Reading:
