Didn’t the “60 Minutes” segment on bitcoin teach the mainstream media anything? New York Post columnist John Crudele is railing against cryptocurrencies. More specifically, he’s rehashing an outdated argument in an article entitled: “Bitcoin Will Soon Be Worth Zero.”
His reason for sounding the alarm is simple: “Last Thursday night bitcoin crashed by about $1,000, to around $7,000.”
Someone should break the news that $1,000 swings are typical for the emerging cryptocurrency. Not only that, but the Bitcoin price has since recovered to nearly $8,000 since he published his article on Monday.