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Welcome back to the breakdown.

It is Friday, February 21st, and today we are going to start by diagnosing the dip.

We're going to be discussing some theories for why the Bitcoin price fell so dramatically

a little earlier this week in such a short amount of time.

Second, we're going to be talking about fire in the exchange funding market and what it

might mean for what type of products investors are interested in. And third and finally,

we're going to take a little hop, skip, and a jump over to the world of central bank digital

currencies, looking at both Sweden, who has announced

some interesting tests as well as analysis around the impact of coronavirus on China's

digital currency plans. Let's break it down. We had been feeling pretty good about this 10K number.

It had gone up to 10K and then fallen and then gone back up and then fallen

and then gone back up again. And we were getting pretty settled at that level. When all of a sudden

on Wednesday, the price dumped something like 6% in under five minutes. It was this huge, huge falloff.

And we've more or less stayed at this 9500 to 9600 level ever since then.

So the most common analysis that I saw on what happened had to do with Binance and Coinbice

going down at the same time. Both of the sites had unscheduled maintenance, and that creates

potential liquidity issues, not to mention

concerns of volatility or concerns of hacks, right? Because at the beginning of Binance

going down, we weren't sure what the answer was. It wasn't clear why the site was going

down. And so you potentially have a scenario where if you have major providers of liquidity who are going

...