Stock Groups

Crypto Market Rose Amid China Crackdown — Will Bitcoin Hit $60k? By CoinQuora

[ad_1]

© Reuters. Crypto Market Rose Amid China Crackdown — Will Bitcoin Hit $60k?
  • Bitcoin’s price dropped after China declared that crypto-related businesses are illegal.
  • Crypto market has risen back again — the BTC price will break out to new highs soon.

The crypto market has risen again amid China’s declaration that crypto-related businesses are illegal.

More so, the reason for the recent price drop is that the People’s Bank of China (PBOC) announced that BTC, ETH, and USDT are not legal tender in China. Because of this, Bitcoin’s price dropped by almost $2,000 as the news flew around.

Actually, Galaxy Digital CEO Mike Novogratz said in a tweet that crypto’s price was dropping for three reasons.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. They are from market makers. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.

[ad_2]