Btc/usd slumps to 1-1/2 month low on massive sell-off after suspension of withdrawals from okex
Source: FxWire Pro - Commentary / 23 May 2018 11:15:15 America/New_York
The price of bitcoin, the world’s largest cryptocurrency in terms of market cap, slumped to its lowest since mid-April, as investors engaged in massive sell-off since the start of this week, following the suspension of withdrawals from OKEx, the most active fee-charging exchange over the past day.
The suspension came after the need rose to fix an error that led to inaccurate account balances, as per the statement released on its website. The downfall was further exaggerated by the recent steak of pessimism created in last week’s Consensus2018 that put investors’ confidence at stake.
Meanwhile, the sell-off collided with the downtrend in financial markets as well, as equities as well as commodities joined the crash, as investors’ optimism turned to risks over the United States’ talks with North Korea and China.
As of 14:50GMT, the BTC/USD currency pair was trading 4.37 percent lower at 7,865.40.
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