Crypto-market continues is downfall even on Tuesday and some reports say that China is keeping a tight vigil across crypto exchanges and financial institutions dealing with crypto business in anyway. Global market also, that deal in cryptocurrency exchange is witnessing a downfall of 10%. Bitcoin which is the oldest and most expensive cryptocurrency is trading at $31,865.20 on Tuesday, June 22, 2021.
Bitcoin, Ethereum, Polkadot And Other Major Cryptocurrencies Continue To Fall, Know Reasons
The oldest cryptocurrency has lost over 20% in the past few days and has dragged the prices of other coins also. The cryptocurrency is down by more than half after witnessing its April peak of almost $65,000. This drop in Bitcoin came after when in may Elon Musk announced that the company will not except any Bitcoins anymore because its mining affects the environment badly and then China announced crackdown at all the cryptomining projects.
China has even ordered payment platforms like Alipay and domestic banks to not to provide any kind of services linked to trading of virtual currencies and has asked all the institutions to cut-off all the payment options for crypto exchange. The authorities have even announced that those found mining illegally will have to bear the consequences for the same.
Ethereum, which holds the number 2 rank in the global cryptocurrencies ranking is also in the red and today on Tuesday, June 22, 2021 it is trading lower at $1880.27 and same goes with other major cryptocurrencies also.
This market is very unpredictable, and the scenario everyone is witnessing since the last past week prove it all. This slide of Bitcoin toward $30,000 amid China’s continued cryptocurrency crackdown has made the investors to worry about their investment.
Top Cryptocurrencies And Their Value On June, 22, 2021 (Tuesday)
Value (Tuesday, 22 June 2021)
|USD Coin||$1||up by 0.03%|