30 Second Cryptocurrency Price Summary
Current Bitcoin Price: $7,483
Top Stories for October 24, 2019
Over USD$200 million worth of long positions have been liquidated on trading platform BitMEX, during yesterday’s price crash.
The value of liquidated positions was one of the largest of the year so far, as Bitcoin hit a new 5-month low.
Ex-CFTC chairman Christopher Giancarlo has claimed that the Trump administration intently tried to deflate the Bitcoin bubble of 2017, via the launch of futures trading.
Officials believed Bitcoin growth was do to a lack of easy ways to short the asset, and that Bitcoin futures would provide that opportunity to more people.
Peter Schiff, a gold investor who is renowned for his resistance towards cryptocurrencies, has made a tweet changing his stance.
His tweet has shown support for privately-issued cryptocurrencies backed by assets, saying that they would present “a major improvement over our current system of national fiat currencies”.
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