Wednesday, January 11, 2017
Bitcoin Declines on Central Bank Scrutiny
China’s central bank is talking about heightened scrutiny of bitcoin exchanges. Just the mention of regulatory oversight was enough to send the value if bitcoin tumbling. Compared to the U.S. dollar, bitcoin fell 12 percent in about one day. The 12 percent move is not the crisis that a comparable move would represent in a national currency — bitcoin is more volatile by nature — but it is an indication of how much of bitcoin activity involves businesses that want their dealings to go unnoticed.