The biggest news About cryptocurrency today is that China has hit hard on crypto. China banned financial institutions and payment companies from providing Crypto services. This change in policy has dropped the price of literally every cryptocurrency.
Today, the digital currency price crashed leaving everyone in utter confusion whether to invest in crypto or not. Many have lost 20% of their invested value by this market crash. The biggest reason considered for this crash is the change in China's policy toward digital currency. Now Chinese financial institutions and payment companies can not provide services to Cryptocurrency. Basically, Chinese people could hold Cryptocurrency but couldn't do much with them. As we know the china is the biggest mining hub of the cryptos so this eventually leads to the crash of the crypto market. This is the biggest fall in cryptocurrency this year. The Crypto market was already down when tesla announced that they won't be accepting cryptocurrencies. Now, this the second incident this month that crashed the crypto market. But this time the market has taken a big hit.
Let us see what impact it made on cryptocurrency.
Dogecoin - It has fallen by 15.76% in the last 24 hrs to $0.4015.
Cardano - It has fallen by 16.69% in the last 24 hrs to $1.68.
Bitcoin - It has fallen by 8.66% in the last 24 hrs to $39,880.80.
Ethereum - It has fallen by 15.88% in the last 24 hrs to $2,894.00.
Today bitcoin reached the lowest. So did the other currencies. Steem Dollar has jumped to $7.79 with 19.83% growth.
checkout full news here-https://economictimes.indiatimes.com/markets/cryptocurrency/what-beijings-new-crackdown-means-for-cryptocurrency-in-china/articleshow/82763142.cms