The Crypto Crash continues – Evergrande and Gary Gensler cause market jitters
This week Bitcoin continues to fall, and is now in danger of breaking the key US$40,000 price level. The fall was triggered by the China Evergrande crisis which has put traders into risk-off mode. Meanwhile, in the U.S. Gary Gensler has continued his war of words against crypto projects.
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Andy Pickering is here with a weekly crypto market update where we look through the volatile world of crypto Twitter to tease out the most important narratives and data points. This week Bitcoin continues to fall, and is now in danger of breaking the key US$40,000 price level. The fall was triggered by the China Evergrande crisis which has put traders into risk-off mode. Meanwhile, in the U.S. Gary Gensler has continued his war of words against crypto projects. He has made it clear that the overwhelming majority of altcoins are securities, and in danger of being regulated as such.
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