In the wake of a Chinese campaign, the “Bitcoin” currency is declining

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The most popular cryptocurrency “Bitcoin” fell by as much as 9% on Monday, as recent volatility in the cryptocurrency market showed no signs of abating.

Market players pointed to poor liquidity and the expansion of China’s campaign against bitcoin mining, according to the Arab portal for technical news.

Bitcoin fell to $32,288, its lowest level in 12 days, and was last down 7.5 percent. If it continues, the decline will be the largest in about a month.

On Friday, authorities in China’s southwestern Sichuan Province ordered the closure of crypto-mining projects.

The State Council, China’s cabinet, pledged last month to crack down on bitcoin mining and trading as part of a series of measures to control financial risks.

Last update: June 21, 2021 – 13:00



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