There is big trouble in Bitcoin again as there appears to be a run on holdings since the break below the 900.00 support after there was a failure to break the 1,000.00 resistance that was set in Dec last year. It tested and was rejected from the resistance three times this year. Mt Gox had to halt withdrawals due to a high number of withdrawal requests putting unexpected pressure on the system. This was a likely outcome and Bitcoin was probably never intended to be the end game but rather it is just the beginning. Just like when Internet search engines started. Google only came after the acceptance of the earlier models failed. I believe that Bitcoin, Litecoin and the like are digital currency 1.0 and there will be 2.0, 3.0 and so on until the real purpose of this becomes clear. This is all leading to a cashless society and maybe even a global digital currency is the end game, but it will take time to implement.
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