Prices of Bitcoin, Cardano, Dogecoin and Ethereum are all down today (July 8) as the cryptocurrency market continues to show signs of volatility in the wake of China’s crackdown on crypto mining.
(The Scotsman / Mon , July 19th, 2021) – Bitcoin prices have dipped over the last few days, falling to a new low for the first time this month today just weeks after the Chinese government clamped down on cryptocurrency mining in the country in late June.
The crackdown in China saw the prices of Bitcoin fall below $30,000 to its lowest value since January 2021 on Tuesday June 22.
Bitcoin prices tumbled by around 5% on Thursday as recent volatility in the cryptocurrency market showed no signs of dampening down, with market players identifying more jitters in the crypto world over China’s expanding crackdown on Bitcoin mining in thin liquidity for the losses.
The coin’s value has almost halved since its record peak of near $65,000 in April this year.
Ever since falling below the $30,000 threshold which observers warned could be a point of no return for the coin, Bitcoin has struggled to break out from values in the low to mid 30s.
Posted by :
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com