Bitcoin Falls 12% After China Cracks Down On Mining“”What’s Next?
- Date: 22-Jun-2021
- Source: Forbes
- Sector:Economy
- Country:Middle East
Bitcoin Falls 12% After China Cracks Down On Mining“”What’s Next?
Technical analysts comment on what's next for bitcoin. (Photo illustration by Chesnot/Getty Images)
Bitcoin prices have dropped recently, losing more than 10% of their value after the closure of mining facilities in China's Sichuan province reduced the nation's mining capacity.
On Friday, local officials ordered businesses in the region to stop mining bitcoin, according to Global Times. Because of this, more than 25 of the largest companies involved in such activities were told to cease their operations, Business Insider reveals.
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