01 Mar Forget The Coronavirus—Is This The Real Reason Bitcoin Suddenly Collapsed?
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Bitcoin crashed this week, collapsing by almost 15% over the last seven-days and dragging down the wider cryptocurrency market.
The bitcoin price, which has had an incredible start to the year, had been hovering around $10,000 per bitcoin before moving sharply lower—diving just as global markets went into free fall due to the spreading coronavirus.
However, many thought bitcoin had begun acting as a so-called safe haven asset, rising as equity and riskier assets fell, and a ruling by the U.S. Securities and Exchange Commission (SEC) against a long-hoped for bitcoin exchange-traded fund (ETF) might somewhat explain the sudden sell-off.
The bitcoin price had been bouncing around the $10,000 mark for the last few weeks before moving … [+]
On Wednesday, the SEC rejected an ETF application from New York-based asset…
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