Bitcoin Tumbles Amid Xinjiang Blackout, Possible US Treasury Investigation
2021-04-19 00:00:00
Daniel Moss,
Analyst
Bitcoin, BTC/USD, Xinjiang Blackout, US Treasury Investigation, Coinbase – Talking Points:
Bitcoin prices tumbled lower amid news of a possible US Treasury investigation into the crypto space and a blackout in the Chinese Bitcoin mining region of Xinjiang.
However, it is yet to be seen if this move garners follow-through given the recent listing of Coinbase, and adoption of digital assets by several respected multi-nationals.
Bitcoin prices tumbled lower overnight, falling as much as 15.7% to the lowest levels since March 26, before climbing back to finish just shy of 6% down on the day. The substantial sell-off appears to be linked to news that the US Treasury is opening an investigation into instances of money laundering carried out through the use of digital assets. However, this has yet to be confirmed or substantiated, with the Treasury’s Financial Cri
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