Bitcoin experiences another crash

May 20, 2021, BEIJING: The price of the world’s most expensive cryptocurrency, bitcoin, continues to plummet.

BaaghiTV: According to the British news agency, the cryptocurrency imposed by China, after the crackdown in China, its price continues to decline sharply, after the new restrictions, the price of bitcoin has fallen against the dollar and now stands below $40,000.

China has banned financial companies from providing cryptocurrency transaction services, while three state institutions, the National Internet Finance Association of China, the China Banking Association, and the Payment and Clearing Association, have previously issued a warning on social media, calling the buying and selling of corrupt currency a bet and warning investors.

After the Chinese government’s move, the price of bitcoin has dropped by 13%, while the value of other digital coins, Ethereum and DogeCoin, has dropped by 18%. Last week, Tesla announced that it would not accept bitcoins, reducing its value by more than 10 percent. It should be noted that China has outlawed bitcoin trading since 2019 to curb money laundering, but the trade-in bitcoins and other corrupt currencies by the public has added to Beijing’s woes.

Since the fall in the price of bitcoin, the micro-blogging website Twitter has been at the top of the Corrupt Crash and Bitcoin Crash Twitter trends list and funny memes are being shared on bitcoin investors.

Stay tuned to BaaghiTV for latest news and Updates!