The collapse of bitcoin. The cryptocurrency has lost 30% in price

On Wednesday, the value of Bitcoin fell below the $ 40,000 mark amid news of further restrictions on cryptocurrency transactions in China.

Reuters report this.

“Bitcoin fell by about 9% to $ 38,940. In general, it decreased by 40% from the highest figure of 64.8 thousand dollars on April 14,” the agency writes.

The value of the Ethereum cryptocurrency also fell – by about 15% to $ 2,875. 36.

“The decline of the two largest cryptocurrencies last week was caused by Musk’s statement that Tesla is stopping accepting bitcoin as a means of payment.

At the same time, China on Tuesday said that it prohibits financial institutions and payment companies from providing services related to cryptocurrency transactions,” the article says.

According to Coindesk, the cost of Bitcoin was $ 39,300.

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Author: Steve Cowan
Graduated From Princeton University. He has been at the Free Press since October 2014. Previously worked as a regional entertainment editor.
Function: Chief-Editor
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