Market Wrap: Bitcoin Crashes as FUD Sets In – CoinDesk - USA Newsplug

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Thursday, December 23, 2021

Market Wrap: Bitcoin Crashes as FUD Sets In – CoinDesk

On Wednesday, we recapped how Tesla’s bitcoin acceptance and Coinbase’s direct listing helped send bitcoin’s price to a new all-time high near $65,000, which turned out, in hindsight, to be the market peak. Today, we’ll show how some traders and investors began to cash out in April and May as concerns mounted over U.S. capital gains taxes, bitcoin’s environmental footprint and an outright crypto ban in China. It seemed like the fear, uncertainty and doubt – FUD, or crypto-speak for negative news – was coming all at once.



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