Bitcoin drops to $ 43,000, Ethereum loses $ 3,000
Bitcoin price collapsed on September 20 as investors began to reduce risk amid a global stock market slump.
Bitcoin price drops 10% to 42,634 USD in September 20, according to Coin Metrics. The crypto markets are all red, with Ethereum falling 12% to $ 2,985.95.
The global stock markets are falling sharply as investors fear contagion risks from the world’s most heavily indebted real estate company Evergrande. Investors are also focusing on this week’s Fed meeting for signs that the central bank is tightening its tap.
The decline in the virtual currency market is because investors are concerned about the regulation that controls stablecoins. The Financial Stability Oversight Council (FSOC) could label stablecoins as “systemic risk,” the New York Times reported late last week. The labeling as “systemic risk” will subject these digital currencies to a close examination.
* The real estate stock sell-off in China because of the Evergrande Effect
* What will be the consequences of the collapse of Evergrande?
* Evergrande fear is dragging global stocks down
Vu Hao (according to CNBC)