Bitcoin Dropped to Lowest Level Since June with Impending Testimony on Libra


Cryptocurrencies drop, Bitcoin and Ethereum fall 9%, as Zuckerburg gets set to testify on Libra in Washington.

Today Mark Zuckerberg will begin his planned testimony in front of the House Financial Services Committee. With the that pending Bitcoin, world's largest cryptocurrency, fell as much as 9% to $7,418 in New York.

"The main reason for this is because of the immense pressure Facebook's Libra is getting from Washington," Matt Maley, equity strategist at Miller Tabak + Co told Bloomberg. "That is basically making it much less likely that Bitcoin will go mainstream as quickly as some of its bulls think it will."

Ethereum fell as much as 10%.

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Economics, Finance and Investing