by The main catalyst for the move down Friday was a statement from a China’s State Council on BTC: “We should crack down on bitcoin mining and trading activities and prevent individual risks from being passed to the whole society.”Within two hours, bitcoin fell from ,454 around 14:15 UTC (10:15 a.m. ET) to as low as ,880, an 11% decrease, based on CoinDesk 20 data. Bitcoin is still falling, at ,224 as of press time. “I expect BTC/USD to range around ,000 for a while,” said George Clayton, managing partner at investment firm Cryptanalysis Capital.CoindeskDanial Cawrey - Market Wrap: China Breaks Crypto as Bitcoin Falls to K, ETH Drops 0 in Two Hours
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The main catalyst for the move down Friday was a statement from a China’s State Council on BTC: “We should crack down on bitcoin mining and trading activities and prevent individual risks from being passed to the whole society.”
Within two hours, bitcoin fell from $41,454 around 14:15 UTC (10:15 a.m. ET) to as low as $36,880, an 11% decrease, based on CoinDesk 20 data. Bitcoin is still falling, at $36,224 as of press time.
“I expect BTC/USD to range around $38,000 for a while,” said George Clayton, managing partner at investment firm Cryptanalysis Capital.
Coindesk