Bitcoin is down 15%
Bitcoin is trading around 15% lower, depending on the exchange. It's fallen below $13,000, which is only back where it was on November 3.
But it's trading on futures exchanges right now and the rules on the CME are that the contract can't fall more than 20%. Now, there isn't much volume there yet, with only about 1000 contracts trading hands today.
But if prices fall more than 20%, trading will be locked outside of that until next Tuesday (because of the holiday Monday). That could certainly damage confidence in futures trading.
The CBOE contract only has momentary halt and can continue to trade at any price. Futures will be halted for 2 minutes on any move of 20% or more. They will be halted for 5 minutes if price moves exceed 20%.
Here's the score today:
- Ethereum -22% to $607
- Ripple -17% to $0.8500
- Litecoin -25% to $225
Here's a hilarious video:
