Ethereum drops more than Bitcoin as China escalates crypto ban, ETH/BTC at 3-...
The second-largest cryptocurrency falls 13.30% versus Bitcoin's 9.38% decline as China's move scares investors away. The price of Ethereum's native token Ether (ETH) crept lower Friday after China extended its crackdown on cryptocurrencies by deeming their transactions as "illegal.""Financial institutions and non-bank payment institutions cannot offer services to activities and operations related to virtual currencies," the People's Bank of China said in a statement on its website Friday, adding that online crypto services to Chinese residents offered by offshore exchanges are also....
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Launched in China in 2018, SparkPool controls over 22% of Ether’s hashrate as of today, second only to Ethermine. Sparkpool, the second-largest Ethereum mining pool in the world, is suspending operations due to the ongoing Chinese crackdown on crypto.The mining pool officially announced Sept. 27 it has suspended access to new users in mainland China in response to Chinese authorities initiating new measures to combat crypto adoption in the country.Following initial restrictions made last Friday, Sparkpool will continue shutting down services, and plans to suspend existing mining pool users....
China’s central bank has announced that all crypto-related transactions and services are now illegal. In response, Bitcoin drops down to $41k from $45k. China Announces All Crypto Transactions And Activities Are Illegal As per a report from Bloomberg, China has intensified its crackdown on crypto and Bitcoin as the nation’s central bank says all digital […]
JPMorgan’s analysts have made a case that bitcoin’s price could reach $146,000 as the cryptocurrency’s competition with gold heats up. Meanwhile, the firm’s global strategist sees the current bitcoin bull run as being similar to the bull run of 2017. He warns of three risks that could affect bitcoin’s outlook for 2021. JPMorgan Sets Bitcoin’s Price Target at $146K JPMorgan published a report Monday on bitcoin’s valuation and future outlook. “We cannot exclude the possibility that the current speculative mania will propagate further, pushing....
Dogecoin’s price has dropped almost 10% following China’s statement that crypto transactions and services are illegal in the nation. As China Declares Crypto Transactions Illegal, Dogecoin Plunges Almost 10% According to a report from Bloomberg, China’s central bank has put out a statement saying that all crypto transactions and services are illegal in the country. The central bank, called The People’s Bank Of China (PBOC), has announced that the ban includes activities like derivatives trading and exchange services offered by offshore organizations. Following the....
Have you noticed a trend lately? It seems like every number of days, some "news" comes from China regarding a ban of some sort. If not outright, then the discussion surrounds banks and other financial institutions from being barred from bitcoin dealings. And every single time there's panic. And what happens when there's panic? The price drops. Someone makes a lot of money. I received an email this morning from a reader asking why I haven't covered this latest news coming from China. Apparently, these "talks" between the People's Bank of China and financial institutions are getting serious.....