Bitcoin Fell Below $30,000 For The First Time Since June 22
For the first time since June 22, the bitcoin rate fell below the $ 30,000 mark – the currency not only reached its minimum values in a month, but also negatively affected the rates of other crypto assets.
According to the CoinMarketCap portal; over $ 90 billion has been washed out of the cryptocurrency market over the past 24 hours. Bitcoin fell more than 6%, Ethereum almost 9%, and XRP almost 11%.
Cryptocurrency issues came after a big selloff in global equity markets – on Monday, the Dow Jones Industrial Average hit its worst reading since last October. According to market analysts, high-risk assets were being sold all over the place.
The ban on mining and trading in cryptocurrencies in China also had a significant impact on the price. The main regions responsible for mining bitcoins in the PRC forced local miners to terminate their activities due to the energy intensity of mining and transactions, as well as related environmental impacts and other reasons. In addition, the Central Bank of China warned companies related to finance about a ban on providing customers with any services related to the production and trading of cryptocurrencies.
The restrictions are not only taking effect in China. The increasingly stringent regulation of the cryptoasset market is observed in the UK, Japan, Canada, Thailand and other countries. The head of the Luno crypto exchange, Vijay Ayyar, said that the sale of bitcoins could lead to their fall to $ 22,000 – $ 24,000. According to his forecasts, in the near future; the exchange rate may fluctuate from $ 20,000 to $ 40,000 per bitcoin.