Recap On the Market Price crash
The summary of yesterday’s great market downside was as result of another round of FUD. The Chinese government made Crackdown on miners, Crypto Exchanges and banks for Crypto Transactions.
China is a home of 65% of bitcoin mining facilities, making the current trading and mining ban to affect the general market. This has made a drop of 17% of bitcoin hash rate over the past 48 hours.
This is tough and difficult for the general market with the Chinese authorities’ attention on crypto mining and trading. Making it tougher for retail and institutional investors in China to be performing cryptocurrency transactions.
The Chinese third largest lender by asset bank, Agriculture Bank of China(AgBank),has decided to to follow the instruction from the Chinese government to ban cryptocurrency transactions.
Posted Using LeoFinance Beta
This is not smiling at all,what will now be the future of crypt when china that holds the largest part if it as Dumpty it
Time will tell
that one is certain