After spending three days trading above the price for an ounce of gold, Bitcoin prices crashed overnight – down over $120 in a few short hours – following Bloomberg headlines citing China officials saying that Bitcoin regulation is not temporary.
As a reminder, a lot of this most recent run-up has been catalyzed on
hope of a positive ruling by the SEC with regard the approval of Bitcoin
ETFs – the ruling is due on Saturday.
via http://ift.tt/2mwVuvF Tyler Durden