Bitcoin price continues to fall in the market
The cryptocurrency lost 10 % of its value after measures against the mining of digital assets increased in the Asian country
This Monday, bitcoin fell again in the market, this time by 10 % of its value, after measures against the mining of digital assets increased in China.
Recently, the Chinese government ordered the closure of some 26 mining centers throughout the country. It should be noted that almost 80 % of the global cryptocurrency trade is powered by mining in that country.
The price of the digital asset plunged to $ 32,309 after hitting a record close to $ 65,000 in April, partly due to repressive measures from Beijing.
The resulting volatility, while puzzling, matches the behavior of previous announcements from China. The country has become a major source of troubles for bitcoin’s bullish momentum in recent weeks as miners face a crackdown and officials reiterate existing restrictions on the cryptocurrency in place since 2017.
K. Tovar
Source: El Nacional
