19 Apr '13, 2pm

#Bitcoin implosion: 5 signs of an #investing bubble: New video- only on @YahooFinance's #Breakout

For a brief period this month an electronic form of currency called bitcoins were all the rage. Promoted as an alternative to paper or "fiat" currency, bitcoin caught a popular wave with the public and became the it investment of the moment. With high profile investors like the Winklevoss twins, it seemed like nothing could stop the momentum. Then as quickly as it inflated, the bitcoin bubble burst . After rising from $20 in February to $266 on April 10th, bitcoin crashed on April 11th, dropping more than $100 before trading was halted. The crash took the price of a bitcoin down more than 75% from its highs to the lows. As usual, it's the latecomers who are getting hit with the biggest losses. Bitcoin will make a nice cautionary tale someday, but so do stories of the housing bubble, the Internet bubble, and every collapse since Dutch Tulips in the 17th century. Some even s...

Full article: http://finance.yahoo.com/blogs/breakout/bitcoin-implosion...

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