The crypto madness
Jan 19, 2018
Cryptocurrency company BitConnect said it’s closing its lending and exchange platform after receiving cease and desist letters from Texas and North Carolina.
The move has helped spark a big selloff in the virtual currency linked to the company, BitConnect Coin, also known as BCC. It was recently down 97% to $6.09, according to CoinMarketCap.com data. BCC had traded as high as $322 on Tuesday.
Tuesday the price was $322. Two days later, it's $6. Next week, it could be $900.
How does one do fundamental or technical analysis with such hyper-volatility and legislative uncertainty?
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