On the night of #btc 19 at around 3 AM, Federal Reserve Chairman Powell stated: (when asked about Bitcoin reserves) We are not allowed to hold Bitcoin, nor do we wish to change the law.
As soon as this news broke, $BTC nearly crashed to 100,000 US dollars within an hour, and other altcoins experienced widespread declines, with even $DOGE dropping by 10%.
The major reason for this plunge is the friction regarding cryptocurrencies from several U.S. departments; a smaller factor may be that certain institutions have premeditated to short sell, using the news to drive the prices down for high profits.
Hopefully, Asian users can rally for a rebound.
