Bitcoin prices falls 10% as cryptocurrencies face another sudden drop.
Cryptocurrencies, including Bitcoins, Ether, etc dropped sharply for the second time in less than 24 hours. Bitcoin, the largest c, tumbled as much as 9.8% and was trading at $6,422, according to Bloomberg composite pricing.The Bloomberg Galaxy Crypto Index, a gauge of the largest digital assets, traded near its lowest level since November 2017 as rival coins Ripple, Ether and Litecoin also fell.
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Business Insider reported on Wednesday that Goldman Sachs Group Inc. was pulling back on near-term plans to set up a crypto trading desk, while trading platform ShapeShift AG said on Tuesday that it will begin asking users for personal information - a policy that may drive away customers who value anonymity. The moves follow last month’s decision by US regulators to reject another round of Bitcoin exchange-traded fund proposals.