China dropped Bitcoin. Cryptocurrency was completely banned in the Celestial Empire, against this background, the Bitcoin rate fell by $ 4,000

Bitcoin, which tested the $ 45,000 mark by Friday afternoon, dropped to $ 41,000 by two in the afternoon. By the end of the day, the rate recovered slightly – at the level of 42.5 thousand dollars, but the growth to the previous 45,000 (and even more so 50,000) is postponed. What is the reason?

This time it is again in China. The country’s central bank issued a statement that outlawed cryptocurrency and all operations with it. If at first mining was actively prohibited in the country, now absolutely everything related to cryptocurrency is banned. Here is an excerpt from one of the points of the statement of the Chinese Central Bank:

Carrying out a legal business of exchanging cryptocurrencies, exchanges between cryptocurrencies, buying and selling cryptocurrencies …, providing information … pricing services for cryptocurrency transactions, financing the issue of tokens, transactions with cryptocurrency derivatives, business activities involving the illegal sale of tokens, unauthorized public issue of securities, illegal futures business, illegal fundraising and other illegal financial activities are strictly prohibited by law. Persons engaged in illegal financial activities are criminals and are prosecuted in accordance with the law.

In other words, all transactions with any cryptocurrency are now prohibited in China. Obviously, cryptocurrency exchanges are also banned. This news brought down not only Bitcoin, the rates of other cryptocurrencies also went down.

During the day, the decrease in the value of Ethereum and Binance Coin amounted to more than six percent, Dogecoin and XRP decreased by almost five percent. Interestingly, on a daily and weekly basis, Cardano suffered the least: plus 1.8 and minus 1.5 percent, respectively.