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The Value Of Bitcoin Just Took A Major Hit—And People Are Very, Very Concerned

Bitcoin, the cryptocurrency used online (and just about only online) has been around for a few years, but it remains mysterious and misunderstood. As such, its status as the leading contender for a future worldwide money system not tied to any central government captivated investors in 2017. Its value (or perceived value) has exploded over the last few months. Just four days ago the price peaked at just under $20,000. And that might be as high as it will go, because it seems as if the inevitable Bitcoin bubble burst has occurred.

The value of Bitcoin just plummeted by 30 percent. It’s currently sitting around $12,500, which is a huge drop for a single day. This means Bitcoin is now worth roughly what it was, uh, last week.

This doesn’t necessarily spell the end of Bitcoin, but a lot of people lost a lot of money today. When the stock market crashed in 1929, people reportedly jumped out of windows. In this day and age, they just vent on Twitter.