China Bans Bitcoin Mining: Cryptocurrencies Fall


Cryptocurrency markets, which have been wobbly due to the negative news that have been pumped for a while, started to fall for good with China’s ban on mining. Both Bitcoin and altcoins have lost around 10 percent and this depreciation continues to increase. The market volume has also decreased significantly.

It has become one of the most popular investment tools in recent years. cryptocurrencies, is currently bothering investors. The almost 50 percent depreciation of Bitcoin, which was traded over $ 60 thousand in April, causes a serious depreciation of altcoins, and the money in the investor’s pocket is gradually melting. China’s take on the pumping of bad news decision to ban mining Now, it has caused the markets to go completely into a bloodbath.

In one of our content that we shared with you recently, the Chinese government has started to expel Bitcoin miners from the country. we transferred. This was last week rebound caused the markets to crash again. All cryptocurrencies in the market, especially Bitcoin, are starting to lose value as of now. they keep going.

Here is the latest situation in the top 10 cryptocurrencies


When we look at the data on Coinmarketcap, we see that Bitcoin has lost more than 7 percent in the last twenty-four hours and is currently 33 thousand dollars we see that. In this context, the depreciation in the last week has reached almost 20 percent. A similar situation, Ethereum, Binance Coin, Cardano, DogecoinThe same goes for Ripple, Polkadot, and Uniswap. Tether and USD Coin, which are dollar-indexed altcoins, are not affected by this situation.


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Meanwhile, the declines in the markets market volume It should be noted that it also affects If you remember, we were telling you in the past months that the total volume of crypto money markets has exceeded 2 trillion dollars. In the latest data, we see that the market volume has decreased to 1.3 trillion dollars. This is the investor’s withdrawn from the market means.

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