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Bitcoin has soared from $3,400 in February to over $8,700 this week, potentially due to the US-China trade war and wider interest in cryptocurrencies.
Bitcoin is down more than 8% as speculators take profits following the cryptocurrency's sharp rise this month.
Bitcoin spiked to $7,500 on Sunday. The trade war, institutional interest, an exodus from altcoins, Bitfinex, and Binance could all be responsible.
The price of bitcoin fell 2% after China's state planner added bitcoin mining to a draft list of industrial activities it wants to ban.
The mysterious surge in bitcoin may have been fueled by ‘whales’ who wanted to ‘pump up the value of their holdings’
The data firm TokenAnalyst posits that Goliath bitcoin investors simultaneously entered the market, leading to this week's spike in bitcoin's value.
Bitcoin is only going to keep declining, Goldman Sachs' investment strategy group said in a midyear-outlook report published this week, and the cryptocurrency has yet to have an impact on any other assets due to its small fraction of the world's wealth.
The 12 Russian hackers indicted Friday by the special counsel Robert Mueller utilized bitcoin to facilitate their scheme, according to the indictment.
Gemini, the cryptocurrency exchange founded by Tyler and Cameron Winklevoss, just made a big hire from the New York Stock Exchange.
In response to a request by the Organisation for Economic Co-operation and Development to reduce tax crime, the IRS formed the Joint Chiefs of Global Tax Enforcement (J5), a coalition between five countries aimed at investigating cryptocurrency crimes, including tax fraud and money laundering.
Chris Concannon, the president of Cboe Global Markets, is one of Wall Street's biggest crypto advocates. But the trading veteran thinks investors should lay awake at night worrying about the uncertainty hanging over the market for initial coin offerings, the popular crypto crowdfunding method.