{"id":280097,"date":"2021-06-21T15:17:04","date_gmt":"2021-06-21T12:17:04","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-hits-two-week-low-after-us-and-china-lay-the-smackdown\/"},"modified":"2021-06-21T15:17:04","modified_gmt":"2021-06-21T12:17:04","slug":"bitcoin-hits-two-week-low-after-us-and-china-lay-the-smackdown","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-hits-two-week-low-after-us-and-china-lay-the-smackdown\/","title":{"rendered":"#Bitcoin hits two-week low after US and China lay the smackdown"},"content":{"rendered":"

“#Bitcoin hits two-week low after US and China lay the smackdown<\/strong>”
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The crypto market plummeted again over the weekend, amid concerns over a crackdown on bitcoin mining in China and a policy tilt at the US Federal Reserve.<\/p>\n

Bitcoin dived by as much as 9% on Monday, dropping to $32,288 \u2014 its lowest price in almost two weeks. Ether, meanwhile, slid by as much as 12%, dipping below $2,000 for the first time in nearly a month.<\/p>\n

At the time of writing, Coindesk lists their prices as $32,448<\/a> and $1,959<\/a> respectively.<\/p>\n

Analysts attributed the dip to two key factors: a hawkish pivot in policy at the Federal Reserve that reduced the app<\/a>eal of risky assets, and China\u2019s ongoing clampdown on crypto mining.<\/p>\n

[Read:\u00a0Why entrepreneurship in emerging markets matters]<\/em><\/span><\/p>\n

Beijing has been stepping up its efforts to curb cryptocurrencies in China, which accounts for as much as 70% of the world\u2019s crypto supply, according to some estimates.<\/p>\n

Authorities in the Chinese province of Sichuan ordered crypto-mining projects in the region to close last Friday, and other regulators in key mining hubs in the country have imposed similarly harsh measures.<\/p>\n

The ban means\u00a0that more than 90% of China\u2019s Bitcoin mining capacity is estimated to be shut down, according to a report<\/a> by government-owned media<\/a> outlet the Global Times.<\/p>\n

The intervention came a month after\u00a0China banned banks and payment companies from providing services related to cryptocurrency transactions.<\/p>\n

The market is also coming under growing scrutiny from other regulators around the world.<\/p>\n

Authorities have cited concern over the environmental impact of crypto mining, its potential to facilitate illegal activity, and the market\u2019s volatility. But critics say their real fear involves the threat to the existing banking system.<\/p>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Bitcoin hits two-week low after US and China lay the smackdown” The crypto market plummeted again over the weekend, amid concerns over a crackdown on bitcoin mining in China and a policy tilt at the US Federal Reserve. Bitcoin dived by as much as 9% on Monday, dropping to $32,288 \u2014 its lowest price in…<\/p>\n","protected":false},"author":1,"featured_media":280098,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/img-cdn.tnwcdn.com\/image\/hardfork?filter_last=1&fit=1280,640&url=https:\/\/cdn0.tnwcdn.com\/wp-content\/blogs.dir\/1\/files\/2021\/06\/Untitled-design-9.jpg&signature=9faee1a9d74944bfccfada1889f69419","fifu_image_alt":"","footnotes":""},"categories":[18],"tags":[],"class_list":["post-280097","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/280097","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=280097"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/280097\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/280098"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=280097"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=280097"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=280097"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}