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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
Cryptocurrency Mining As Bitcoin Slides Amid Stocks Rout

Photographer: Akos Stiller/Bloomberg

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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.