Bitcoin Is Absolutely Being Blown to Pieces and It's Fun to Watch
Bitcoin blows a leak.

Bitcoin blow-up: Apologies in advance for an abbreviated Morning Jolt -- I am rocking a 100-degree temperature and am preparing to sit down on-camera with Overstock  (OSTK) CEO Patrick Byrne (who is about to sell the company). So, a lot is going on. But it's a perfect day to have Byrne in the office as bitcoin is getting rocked. It's almost useless to quote a price as the swings have been that severe -- and swift. Bitcoin prices have crashed 12% inside a day to $13,648. Since Sunday, prices are down 31%. I will declare this new investing rule today: A correction in bitcoin is a drop of 75% (a stock correction is 10% or more). I have tasked TheStreet's bitcoin pro Kinsey Grant to dig into what is driving the bitcoin crash. Here are several early random guesses: (1) rich kids who have owned bitcoin since $1 are selling to buy some holiday gifts for their parents, notably yellow Lamborghinis; (2) rational people (such as Goldman Sachs Group Inc. (GS) looking to set up a trading desk) are starting to get involved with bitcoin and are realizing it's absurd, and they are convincing others of its absurdity; (3) regulators lurk given all sorts of bizarre recent headlines (as a native Long Islander, Long Island Iced Tea Corp.  (LTEA) should be ashamed of itself). All in all, it's fun to watch the crash as it reaffirms the notion that yes, there is risk in investing. 

TheStreet's hottest reads right now: In short, we are killing it. Here are several reads from our team that you should share all over social media: (1) Anders Keitz called out General Electric (GE) and how it pays (or doesn't pay) taxes; (2) Bradley Keoun served up the latest in TheStreet's profile of Wall Street titans with a look at Citigroup's (C) John Dugan; (3) Our entire team goes all in on 2018, firing off an array of stock prediction pieces and must-know information on your finances for the year ahead.

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Not so fast, Apple bulls: Apple's (AAPL) stock has been rallying right into Christmas on expectations for a blowout holiday quarter. People are reading reports of sold out Airpods and imagining an earnings beat of 40 cents a share. It could be time for a reality check as investors look beyond the holiday quarter. JL Warren Capital is out with a note projecting iPhone X shipments falling to 25 million units in the first quarter from 30 million in the fourth quarter. The report cited reduced orders from some of Apple's suppliers. Weak demand due to the smartphone's lofty price is seen as the issue. 

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