For the first time in more than five months, Bitcoin has fallen below নিচে 30,000 in the wake of China's crackdown. Bitcoin is the most popular cryptocurrency in the world.
For the first time in more than five months, Bitcoin has fallen below নিচে 30,000 in the wake of China's crackdown. Bitcoin is the most popular cryptocurrency in the world.
The price of each bitcoin now stands at ৮ 26,790. Last April, the price reached an all-time high of হাজার 74,060. In the two months since then, prices have fallen by more than half, Reuters reported.
Earlier, China called on its banks and payment platforms to stop supporting digital currency transactions.
The country also ordered the closure of bitcoin mining in Sichuan province on Friday.
On Monday, China's central bank said it had recently called on several major banks and payment companies to crack down on cryptocurrency trading.
Banks were asked not to provide products or services such as trading, clearing and settlement for cryptocurrency transactions, the People's Bank of China said in a statement.
The latest move comes after authorities in Sichuan's southwestern province ordered the closure of bitcoin mining activities on Friday.
Fawad Razakzada, an analyst at trading site ThinkMarkets, said: "Concerns are growing about China's ongoing sanctions and the widespread acceptance of Bitcoin and other digital currencies is expected to be delayed."
Authorities last week ordered the closure of 27 bitcoin mines. The matter has been widely circulated on Chinese social media sites and a former Bitcoin mine worker has confirmed the matter.
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Sichuan, a mountainous region in southwestern China, has many cryptocurrency mines. These mines are basically individual installations that have huge centers with racks on top of the computer processor racks, which require a huge amount of power supply and a large part of it comes from local hydropower projects.