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BTC Gains After a Below $30,000 Decline Following a Series of Negative News

June 23, 2021
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BTC Gains After a Below $30,000 Decline Following a Series of Negative News

Bitcoin declined to the lowest in the year to below $30,000 but gained almost 8% to trade at more than $34,000.

Bitcoin’s small competitors rose, Ethereum 6% to $2,014 and XRP to 9% at a price of 64 cents.

Bitcoin started strongly at the beginning of the year with an all-time high of $65,000 sparkling the interest of institutional investors.

Chinese authorities have been suppressing bitcoin mining due to the power-intensive process.

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The People’s Bank of China ordered banks to suspend services related to cryptocurrencies.

Tesla C.E.O. Elon Musk, stopped accepting bitcoin as a form of payment for his company’s cars citing huge energy consumption in mining of the digital asset.

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