Bitcoin plunges with other cryptos amid threat to anonymity

Section:

By Eric Lam and Todd White
Bloomberg News
Thursday, November 26, 2020

Bitcoin plunged today in a selloff that saw other digital assets fall as much as 27%, a slide likely to stoke speculation about the durability of the latest boom in cryptocurrencies.

The largest token fell more than 8% in trading today after slumping as much as 13%, heading for one of its worst days since the pandemic-spurred liquidation in March.

... Dispatch continues below ...



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The rout began just hours after Bitcoin rose to within $7 of its record high of $19,511, the culmination of a more than 250% surge in past nine months. Fears over tighter crypto regulation and profit-taking after a frenetic rally were among the reasons cited for the sudden drop.

The selloff gathered pace late Wednesday after Coinbase Inc. Chief Executive Officer Brian Armstrong tweeted about speculation the U.S. is considering new rules that would undermine anonymity in digital transactions. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2020-11-26/crypto-boom-shaken-as...

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