Bitcoin (BTC) price accelerated its sell-off on Nov. 21 to hit a new yearly low at $15,654.
Data from Glassnode shows $1.45 billion in realized losses for the week of Nov. 12, ranking as the fourth largest in history.
According to Glassnode: “A comparably small $83M in realized profits occurred, suggesting that the vast majority of spent volume at present is sourced from investors from the current cycle” Realized losses for Bitcoin.
The Senate Bank Committee warned the company in letters on Nov. 21 to conform to banking standards.
In the long term market participants still expect the price of Bitcoin to go up, especially as more banks and financial institutions are seemingly turning to digital cash for settlement purposes even amidst the chaos.
Source - Cointelegraph.com.