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Bitcoin plummets 10% after China insists that it is “illegal” By EFE

by souhaib
November 16, 2021
in Forex
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© Reuters. Bitcoin plunges 10% after China insists it is “illegal”

Madrid, Nov 16 (.) .- El, the best-known cryptocurrency in the market, falls sharply this Tuesday, by 10.2%, and loses the level of $ 60,000, in a day in which China has insisted that cryptocurrencies are “illegal”.

In this way, bitcoin moves away from the historical highs that it marked last week, when it touched $ 69,000.

After several sessions of moderate changes, bitcoin is crashing today after China has warned that it will control that state companies do not carry out activities related to cryptocurrencies, considered illegal.

He recalled that these coins are not issued “by monetary authorities” and that “they are not real.”

On the other hand, the cryptocurrency falls after the president of the United States, Joe Biden, has signed a historic infrastructure plan, worth 1.2 trillion dollars, which includes rules for companies that handle cryptocurrencies.

In addition to bitcoin, ether, the platform’s cryptocurrency, follows the same trend and drops 10.77%, to $ 4,221.

Legal warning: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



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