Bitcoin Slumps in Wake of Chinese New Year Slowdown Warning
BitMex’s Hayes predicts lower trading volume, volatility
Technical gauges also flash cautionary signs to crypto traders
Photographer: Akos Stiller/Bloomberg
Bloomberg News
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Bitcoin traders appear to be heeding a warning of a demand slowdown ahead of China’s lunar New Year.
The largest cryptocurrency slumped as much as 4% to $8,281, while altcoins such as Ethereum Classic tumbled more than 11% to $8.18 in New York trading.
