This Week in Bitcoin: Black Swans

It might be an uncommon week in bitcoin the place there weren’t glum tidings to report, be it an trade hack, regulatory clampdown, or edict from the east. It simply so occurs that this week witnessed all three – and on the identical day, no much less. You may name it dangerous luck, or you possibly can name the occasion, which despatched bitcoin beneath $9,000, the place it’s flirted ever since, a black swan: a random prevalence that’s not possible to foretell.

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A Triumvirate of Black Swans Descend

They are saying that dangerous luck comes in threes, and on Wednesday bitcoin was struck by a triple whammy which despatched costs tumbling. This excellent storm of unfavourable information got here in the type of an SEC assertion on unregulated exchanges, studies of Japanese regulators shutting down exchanges, and a serious incident at Binance in which compromised consumer accounts have been…

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