Bitcoin Price Falls to Three-Week Low

Bitcoin tumbled and crashed to a three-week low early on Sunday, which put a small hole in the speculative bubble that has already been built around a number of other cryptocurrencies as Coinbase made its Nasdaq debut.

Bitcoin dropped from approximately $60,000 to $52,148 in just 15 minutes, which eradicated almost $4 billion worth of positions in the derivatives market.


The precise reason for the crash is not known, but the market mood might have been dampened thanks to rumors that the U.S. Treasury was planning to charge a number of different financial companies for money laundering using common cryptocurrencies.

In the days leading up to Coinbase’s debut on Nasdaq, Bitcoin managed to go above $60,000, with a record of $64,801 being recorded on April 14.

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