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mk · 4226 days ago · link · · parent · post: Bitcoin loses 44% of its value in one day. Dropping from over $250 to around $150
That's awful. Stuff like this needs to be taught in school. I cannot think of any instance where there was widespread speculation about a bubble, and it not eventually being revealed as one. If there is no clear rationale for a steep price increase, the price will fall just as easily. That really needs to be taught. It's awful that those that get burned the worse are often those that can afford it the least. I think its because bad financial decisions are driven by emotion, and if you are at great risk, it was probably an emotional decision that got you in that situation. The poor kid probably fell asleep dreaming about what he'd do with his $400k.