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Bitcoin Drops From All-Time High After Failing to Hit $20,000

  • Gary Cohn says the token lacks some ‘basic integrity’
  • The cryptocurrency has soared more than 160% this year
Bloomberg business news
Gary Cohn Warns Bitcoin May Fail
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Bitcoin pulled back after approaching $20,000 on Tuesday amid skepticism over the cryptocurrency’s intense rally.

The world’s largest digital asset fell for a second day on Wednesday, dropping 1.2% to $18,820 as of 7:10 a.m. in Hong Kong. It had reached an intraday record of $19,914.33 in the previous session. In an interview with Bloomberg Television, Gary Cohn, a former economic chief to President Donald Trump, said the token “lacks some of the basic integrity of a real market” and could eventually fail.