Bitcoin Crashes Back Below Gold On China Chatter


After spending three days trading above the price for an ounce of gold, Bitcoin prices crashed overnight – down over $120 in a few short hours – following Bloomberg headlines citing China officials saying that Bitcoin regulation is not temporary.

 

As a reminder, a lot of this most recent run-up has been catalyzed on hope of a positive ruling by the SEC with regard the approval of Bitcoin ETFs – the ruling is due on Saturday.

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