Beware of robber banks (RB), bad advisors.
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Bitcoin bounces 20 percent after dipping below $3,000
Bitcoin bounced by more than 20 percent in the space of just four hours on Friday, having skidded below $3,000 earlier as Chinese authorities ordered Beijing-based cryptocurrency exchanges to stop trading. After a vertiginous climb to record highs close to $5,000 earlier this month, bitcoin had plunged almost 40 percent in the 12 following days, with the sell-off driven in large part by fears of China cracking down on the market as well as a warning from JPMorgan CEO Jamie Dimon that bitcoin was a “fraud”. The rapidity of the fall - matched by losses across the hundreds of other cryptocurrencies that now rival ... (full story)
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