After Elon Musk, the news that lowered the Bitcoin price came from China! details are in our news.
A blow to Bitcoin came from China!
Bitcoin and other crypto money services to customers of financial institutions and payment companies in China Cryptocurrencies suffered a huge drop on Wednesday after it was banned from offering it.
There was an Elon Musk effect in the markets last week.. Tesla CEO announced that he suspended Bitcoin and Tesla purchases, citing the use of fossil fuels in Bitcoin mining and the harm to the environment, especially energy sources with high greenhouse gas emissions such as coal.
See: Bitcoin news and last minute developments
Bitcoin, which fell below $ 45000 after this decision, fell below $ 40000 after the decision taken in China. A joint statement was made, citing concerns about volatility. It has returned, seriously infringing on the security of people’s property and disrupting the normal economic and financial order.” it is not a ban that includes owning cryptocurrencies, although it restricts the spread of currencies and products. Such a restriction was also made in Turkey in the past days.
Nexo’s co-founder Antoni Trenchev said of the restriction in China, “This is the last chapter of China tightening the noose around crypto.”
Bitcoin is trading at $39,327 this morning, down 12.85%. Ethereum, on the other hand, dropped 16% to below $3000 and is trading at $2,908.
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