Bitcoin Watch – Bitcoin price dives as Bitfinex and Tether get subpoenaed

At the beginning of 2017, the highly volatile Bitcoin was valued at just below USD1,000, however recently it has skyrocketed well into the teens at a high of over USD19,000.

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According to Bloomberg, U.S. Commodity Futures Trading Commission sent subpoenas on 06-Dec-2018 to Bitfinex and Tether, causing the value of cryptocurrencies to drop dramatically. Over the last 12 hours, Bitcoin has been floating around the USD10,000 mark, an almost USD2,000 or 16% drop. The virtual currency hasn’t closed below USD10,000 since Nov-2017, according to a composite of prices compiled by Bloomberg.

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