Bitcoin price is now at its lowest level since the beginning of February. The price of Ether has also fallen by more than 7 percent, while the price of Internet computer which created panic in the last week has also fallen.
Bitcoin price has dropped significantly recently.
- Bitcoin price lowest since February
- Dogecoin price reduction also started as a joke
- Ether prices also fall by more than 7 percent
- Recently the price of internet computer which created panic has also fallen.
A threat from China has led to a fall in the price of Bitcoin and other cryptocurrencies. The price of bitcoin, the world's largest and popular Cryptocurrency, has reached the lowest level since February. The People's Bank of China has again asserted that digital tokens cannot be used as payment.
This brought bitcoin prices down 51. percent to $ 42,547 in New York. The price of this cryptocurrency has fallen considerably over the past week from Elon Musk's 'Kabhi Ya, Kabhi Naa' tweets about Tesla's holdings in Bitcoin.
Now the statement of the State Bank of China has completed the right thing. The price of bitcoin is now at its lowest level since the beginning of February.
The price of ether has also fallen by more than 7 percent, while the price of internet computer which created panic in the last week has also fallen.
The price of Dogecoin, a cryptocurrency that started as a joke, has also come down.
China hard on
Crypto Antony Trenchev, managing partner and co-founder of London-based crypto lender company Nexo, said that it is clear that China is tightening its stance on crypto.
The notice issued on the official WeChat account of China's state-run bank states that virtual currencies should not be used in the market as they are not real currencies.
It is said in the note that financial and payment institutions are not allowed to fix the price of products or services in virtual currency.
China has banned virtual currencies since 2017. Once 90 percent of its business was in China, but now most of the mining business and big companies have gone abroad. Has recently taken steps to release its digital yuan in China.