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News Link • Bitcoin

Bitcoin, Ethereum Plunge Accelerates As Scaling Deadline Looms

• http://www.zerohedge.com, by Tyler Durden

Once again it is the so-called 'civil war' that is weighing on the entire virtual currency space as we noted previously, behind the conflict is an ideological split about bitcoin's rightful identity...

Bitcoin traded as low as $1830 early this morning to two-month lows... as one veteran of the cryptocurrency trading space told us, "shit's getting real, no one is sure what happens after August 1st , so traders are taking profits, squaring positions into the scaling deadline."

While the main driver of this selloff is undoubtedly anxiety over the looming scaling deadline on August 1st, we note that, as CoinTelegraph reports, none other than the Albanian central bank has joined the chorus warning about the dangers to the public of virtual currencies... Bitcoin and other cryptocurrencies have been making headlines around the world, and with the recent sell-off this week, more is sure to be said. Central banks and governments continue to make statements regarding the dangers of digital currencies, or, conversely, extolling their benefits. 

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