It was Short-term Holders who Panic Sold their Bitcoin During The China Debacle – Investing.com India

It was Short-term Holders who Panic Sold their Bitcoin During The China Debacle – Investing.com India

The situation in China around cryptocurrency trading and mining remains unclear still. But the anticipation and fear among the market for the same haven't changed after it pushed the prices of Bitcoin, Ether, and the entire crypto market to crash, wiping out all the gains made this year.

On Tuesday, China's northern region of Inner Mongolia escalated a campaign against crypto mining, publishing draft rules as per which telecommunications companies and internet firms engaged in crypto mining will have their business licenses revoked by regulators.

But the biggest issue was Chinese Vice Premier Liu He vowing to crack down on bitcoin mining and trading.