Bitcoin falls below $US8,000
The Age reported that Bitcoin has fallen below $US8,000 for the first time since November last year. It reached a record high of $US19,511 on December 18. Wall Street Journal commented that three of the largest banks in the U.S. - Citigroup, JPMorgan Chase and Bank of America - said they would no longer permit credit-card customers to buy bitcoin with their credit cards, so Bitcoin is being progressively rendered useless. The Age compared price graphs for Bitcoin and the infamous schemes from the distant past – such as the 17th century Dutch Tulip Mania, and then the French Mississippi and British South Sea Companies in 18th century. They all look strangely similar, with Bitcoin even more crazy than its predecessors. Anyone who lost money on Bitcoin had been warned repetitively.