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Somebody explained it here: https://www.reddit.com/r/Bitcoin/comments/3hi1gs/emotions_and_uncertainty_are_at_a_high_right_now/ Basically a 10K short bet an an 8K long bet at Bitfinex got closed, triggering a flash crash. Nothing we haven't seen before. Personally I'm pretty happy about it. I sold right on time, then bought back just before the rebound and now I have more coin at a higher value. Sorry for those of you who didn't sell on time and now feel like your life is in slow motion, though, but you CAN take action to protect your money through the legit, no leverage-nonsense bitcoin exchanges like Coinbase. It's not like 3 years ago when you could only trade coin after passing through the draconian verification process at Mt.Gox, BTC-e and Bitstamp. Remember those days? Remember when Mark Karpeles wanted a rectal exam before allowing you to give him your money so he could embezzle it? Well, not anymore. So don't worry about it. The price has been bouncing up and down all year. In April it got up to 292 only to drop to 220. Then in July it went up to 315 only to nosedive to 230-ish right now. It'll go up again. submitted by toliro [link] [150 comments] > lees heel artikel