- Bitcoin (BITCN, BTCS) is currently showing a bid-ask spread of $380.22-$381.97 on Coinbase. The cryptocurrency last traded at these levels in mid-November, when its was in the midst of a parabolic run to $1,100.
- The apparent trigger: Chinese exchanges have begun receiving shutdown notices from banks (previous). They'll have to stop allowing Bitcoin-related bank deposits by April 15.
- Leading local exchange BTC China has already seen an 80% drop in trading volume from its peak. It's prepping legal "workarounds" to deal with a shutdown.
- In addition to the Chinese news, a massive selloff in risk assets (headlined by a 130-point drop for the Nasdaq) might have also taken a toll.
Bitcoin tumbles below $400 following Chinese shutdown notices
From other sites
Video at CNBC.com (Nov 13, 2014)
Video at CNBC.com (Sep 26, 2014)
Video at CNBC.com (Aug 5, 2014)
Video at CNBC.com (Jun 17, 2014)
Video at CNBC.com (Jun 5, 2014)
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