Bitcoin crashes below $7,000
Last Friday the world’s first cryptocurrency lost over 10% om price and crashed below $7,000 on a number of exchanges. Such low price of bitcoins is registered for the first time since May this year.
Against this background, the “fear index” has dipped down to extreme values at the level of 20. According to the site Alternative.me it can mean a possible growth of the cryptocurrency. Binance CEO refutes rumors about the raid in Shanghai office of the exchange
On November, 21 media announced that the largest office of Binance in Shanghai shut down after a police raid. Many analytics connect this news to the cryptocurrencies losing prices, including bitcoin’s dropping below $7,000.
Changpeng Zhao, CEO of Binance, refuted this information, calling this information a FUD block.
“No police, no raid, no office. Hope you didn’t pay to read that FUD block.” — he wrote in his Twitter-account. The USA can make Facebook’s cryptocurrency a security
The House of Representative of the USA introduced a new bill about acknowledging managed stablecoins such as Libra as securities.
"Managed stablecoins, such as the proposed Libra, are clearly securities under existing law. This legislation simply clarifies the statute to remove any ambiguity. Bringing clarity to the regulatory structure of these digital assets protects consumers and ensures proper government oversight going forward", — stated Sylvia Garcia, one of the bill's authors.