Last week, bitcoin hit the headlines for its dramatic 30% one-day price fall, which also marked a 50% tumble over the past month.
An unusual combination of culprits were cited - Tesla CEO and entrepreneur Elon Musk's swift U-turn on the cryptocurrency after deciding he would no longer accept payment in bitcoin; and the People's Bank of China, who banned banks from providing services related to crypto transactions, arguing it is not "real currency". The torrid combination led to an unprecedented number of liquidations recorded last Wednesday (19 May), resulting in crypto exchange giants Binance and Coinbase temporarily suspending withdrawals due to congestion issues. By close of play, more than 800,000 investors,...
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