12 Jun '13, 11am

Did PRISM Cause Bitcoin’s Value to Fall?

Did PRISM Cause Bitcoin’s Value to Fall?

What with the NSA and PRISM hogging the headlines lately, Bitcoin appears to have slipped off the radar somewhat. Yet the cryptocurrency has seen a fairly dramatic drop in its value since the spying allegations emerged, falling from a high of $118 on June 7 to just $89 on June 9, prompting some BTC watchers to suggest that it could be linked to last week’s revelations. The geeks over at CoinDesk were the first to notice the correlation. In their report, they point out that Sundays are typically the quietest day of the week as far as Bitcoin trading goes, but this time around the volume of trades far surpassed recent highs, while the price dropped significantly. Admittedly, the link between PRISM and Bitcoin’s price is a bit tenuous, but at the same time it does look to be a fairly plausible explanation for its sudden decrease in value. CoinDesk argues that the value of Bit...

Full article: http://siliconangle.com/blog/2013/06/12/did-prism-cause-b...

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