BlackRock issues ‘unprecedented’ Fed warning after $300 billion bitcoin and crypto price crash

The Federal Reserve

Bitcoin Bitcoin -1% and crypto prices have moved sharply lower since early June, wiping $300 billion from the combined crypto market (even as the market braces for a $4 trillion “watershed moment”).

The bitcoin price has crashed back from over $70,000 per bitcoin earlier this month as traders scramble to adjust following a serious Federal Reserve interest rate warning by Treasury secretary Janet Yellen.

Now, as one bitcoin and crypto legend bets on a huge China pivot, analysts at the world’s largest asset manager BlackRock have warned an “unprecedented” scenario is unfolding that could hit the bitcoin price and crypto market.


continue reading »