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Guys today I'll share with you What statement did the Chinese government give about cryptocurrency And what effect did this statement have on cryptocurrency.

Today in this article, I will discuss this topic.

• Chinese government statement about cryptocurrency.

• What is the huge development in the crypto space?

• What is the reason behind the bitcoin crash?

• Cryptocurrency Is Facilitate in the American market.

• Due to which reason, the price of all cryptocurrency Fall.

• What Strategy you need to adobe.

• Why the Chinese government has crackdown on all cryptocurrency.

• What is the agenda of the Chinese government Behind the crackdown on cryptocurrency?

So let's get started...

What is the Huge development in the crypto space?

Last night there was a huge development in the crypto space. A statement came from the Chinese government in which the Chinese government obliged the financial payment company not to experts the cryptocurrency as payment but also said that They will not offer any services related to them. As soon as this news hit the market, all the cryptocurrency es fell badly.

Bitcoin, the number one cryptocurrency, also fell 16% to 17% in one day and hit a three-month lowest price. The last time I checked the bitcoin prizes, I found out That one BTC is equaled to 35660$ American dollars.

Last, of all, its price was as low as it was in February. The price of bitcoin was pumped as much as today it has come down to almost half of its pump prize.

And if we talk about the number two cryptocurrency, Ethereum is at number 2 according to market cap, if we look at its price, this cryptocurrency has lost up to 30% of its value.

Due to this reason, the price of all cryptocurrency has come down.

You can call it a huge reaction and so if we look at the rest of the cryptocurrency they are all going red. An estimated all cryptocurrency has fallen by twenty to thirty percent. Well, this is not the first time that the Chinese government has crackdown cryptocurrency. We have seen in the last few days that the Chinese government has been giving hints that they will crackdown on cryptocurrency.

The Chinese government has been giving such hints that they will crackdown against cryptocurrency.

Why the Chinese government has crackdown on all cryptocurrency.

A year ago, the Chinese government banned the crypto exchange is inside China. In the same year, the Chinese government also did the mining of bitcoins inside China.

Around 70 percent of the mining takes place inside China. It also banned bitcoin mining and started a crackdown against it. And after that now it is the major development inside China, in which China has told all the companies that you do not accept cryptocurrency and you do not even accept all the services related to it. And everything comes in this related service. Regarding the statement of the Chinese government, the prices of all the Cryptocurrency fell drastically and that is why the statement caused all the Cryptocurrency to be disturbed. And at the moment when I am talking to you, the price of all the cryptocurrency has fallen this much.

What is the agenda of the Chinese government Behind the crackdown on cryptocurrency?

And I was reading in some reports that if we know, what could be the agenda behind the Chinese government and the Different reports are coming from that quote

• the market is Speculate,

• People can be a scam,

• People can lose their money,

• Bet too much.

But aside from these things, China has its agenda China is launching its digital currency I think it launched But he is in test face right now And wants to stream it. And Chinese government doesn't want that thing the cryptocurrency becomes its competitor. And because of this, the Chinese government is Discourage cryptocurrency. This can be an agenda of the Chinese government because if you look on the other side coz it is being facilitated in the American market. There is a lot of support from inside America, from the very side of the companies, from the government.

Cryptocurrency Is Facilitate in the American market.

They are exploring cryptocurrency to see options inside it. And their European investment bank issued $121M digital notes using the ethereum blockchain. And this is the first time that this has been done by using a cryptocurrency blockchain.

And we can say that the currency is getting support there at the retail level So in this way it becomes clear that the intention of the Chinese government seems to be the agenda, About cryptocurrency.

The reaction of cryptocurrency.

The Reaction that came out was that cryptocurrency was crushed.

Because any speculate market Which is It says " by the rumors, sell the news" this is very famous inside cryptocurrency And it is used inside the crypto space When it was being bought, rumors was saying it would be its future And its price will go up this much And selling is happening in the news and this thing is real.

And this is real news Chinese government is cracking down on cryptocurrency And not giving space to cryptocurrency at all inside China It is another thing that when someone inside China is sitting with such a big holding of cryptocurrency. And when he goes to sell Crackdown The affair again So apparently, because of this selling, it had to fall. How much more will it fall.

And it would be very difficult to say something So far the reaction is still alive, but it is not known how much per long it is.

Pwc globe head statement regarding cryptocurrency.

PWC Price Waterhouse Coopers is the world's largest consulting company The Global Head of this company Of crypto I Was reading his statement in the recent past In the financial times That he was saying that he would not surprise that other That the rest of the government should also do the same thing that the Chinese government has done in the next week All this government together will start to crackdown cryptocurrency.

Now let me tell you the name of those authorities who have given a recent warning, Regarding cryptocurrency.

• UK Financial Conduct Authority

• European Central Bank

• American ministry of finance

All three have issued warnings, concerning the cryptocurrency, others may also crack down.

And if the rest also crackdown of cryptocurrency, then the price of the cryptocurrency will fall. It will be known next week what will happen to us We have to keep an eye on the news, and we have to adopt this Strategy.

What Strategy you need to adobe.

And the price of cryptocurrency is falling in this free fall And at this time, when the price of all cryptocurrency is going down, then this time you have to adopt this Strategy that You have tracked all the news regarding cryptocurrency. Well, this can also be a reaction at the same time if other regulators move A big regulator like USA or Europe Then there can be a lot of trouble The experts are divided over it.

Who has a lot of betting And the central bank is the same thing cryptocurrency challenges these By Default Decentralize currency That means that model of finance in which there should be no interference from the government and the central bank And all control will be in the hands of people It promotes that thing And government do not tolerate this thing and do not let this power go out of hands?

And just as China government is working out who is bringing its own digital coin, And along with this, there is a crackdown on the cryptocurrency. So the Chinese government has done the work it wants, other governments can also do the same work. So if this happens, then there can be a lot of difficulty for the cryptocurrency, and we cannot say whether their prices will be completely zero, but their prices will fall very badly. And their price stopped going there Where on There should be a lot of people agreed that their price should be here.

And this technology which is blockchain undoubtedly has a lot of benefits. And it plays a very important role in the future finances. But this thing has to be seen that these are the coins which had so much money and they were pumped so much Now who will return to their previous condition or not?

My opinion about this.

Bitcoin is the most popular cryptocurrency, with a massive market capitalization. When the price of Bitcoin falls, the price of all other cryptos falls with it. When BIG WHALES tries to benefit from cryptocurrency by devising a plan, the market crashes.

The news that China is banning Bitcoin and Bitcoin mining has recently spread in the media. In China, Bitcoin was never approved for trading, but it was permitted for mining. Big whales disseminated this information through the media in order to cause panic among small investors, as they did in 2017.

Conclusion.

The price of cryptocurrency is falling in this free fall And at this time, when the price of all cryptocurrency is going down, then this time you have to adopt this Strategy that You have tracked all the news regarding cryptocurrency.

Now all you have to do is hold on. Every reasonable investor is holding, and they will prosper at the end of it all. Don't sell your tokens in a panic, and don't follow their instructions.