Part 1 of 2
The Bitcoin rate fell by approximately 18% over the weekend and one of the variables behind this drop was a power failure in China's Xinjiang region that triggered a 45% drop in the hash rate.
The hash price of Bitcoin determines the complete combined computational power that is being used to mine as well as refine the cryptocurrency.
Another aspect behind Bitcoin's rate dive was speculation that the UNITED STATE Treasury would certainly charge a number of banks with cash laundering utilizing cryptocurrencies.
Ran Neuner, founder of Crypto Banter, host of CNBC's Crypto Investor as well as Chief Executive Officer of OnChain Capital called the power outage "a little scary" as it highlighted a significant danger for Bitcoin investors.
0:00 – Bitcoin's hash price decrease
6:24 – U.S. Treasury vs cash laundering
12:47 – Tax obligation on Bitcoin?
14:14 – When to acquire Bitcoin?
19:38 – Bitcoin vs. gold
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