#CryptoCorner: BTC Drops Nearly $2K After Brief Bull Run, Binance Announces 2.0 With Margin Trading, Canada Amends Crypto Regulation

Point Roberts, WA and Delta, BC – July 11, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.’s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market.

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https://www.investorideas.com/Audio/Podcasts/2019/071119-CryptoMarket.mp3

#CryptoCorner: BTC Drops Nearly $2K After Brief Bull Run, Binance Announces 2.0 With Margin Trading, Canada Amends Crypto Regulation

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Crypto Corner

Stocks discussed: (NasdaqGS:FB)

Bitcoin (BTC) plummeted almost $2,000 – roughly 10 percent – in the last 24 hours after peaking at about $13,100 yesterday morning, according to data from CoinMarketCap. At press time, Bitcoin is trading for around $11,700 having sunk as low as $11,370 late last night. An article from Reuters connects this downward movement with comments made by the U.S. Federal Reserve regarding Facebook’s (NasdaqGS:FB) Libra. During his semi-annual testimony on monetary policy before the U.S. House of Representatives Financial Services Committee, Fed Chairman Jerome Powell said:

“Libra raises many serious concerns regarding privacy, money laundering, consumer protection and financial stability.”

and

“I don’t think the project can go forward without addressing those concerns.”

The article further indicates that the price of Bitcoin fell some seven percent during Powell’s testimony. This correlation is echoed by CNBC journalist Ryan Browne, who tweeted a chart showing that Bitcoin drop and Powell’s testimony occurred around the same time.

This chart shows bitcoin falling off a cliff at about 3:30pm BST, around…

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