The price of bitcoin dropped from roughly $60,000 to $52,148 in 15 minutes during the Asian session.
According to CoinDesk, while the exact reason for the sudden crash is unknown, the market mood may have soured due to rumors that the U.S. Treasury is planning to charge several financial institutions for money laundering using cryptocurrencies.
Other altcoins such as XRP (-18.42%) and litecoin (LTC, -17.44%) have declined 17% to 20% in the past 24 hours.
-RW
I feel like your timing to get out of GBTC was spot on.
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