Bloomberg made a remarkable statement regarding the crypto money markets, which have been showing signs of slow recovery in recent days. Citing an article on the website of the People’s Bank of China, the news source announced that the Chinese government has banned all transactions related to cryptocurrencies. This led to the red painting of all crypto money prices, especially Bitcoin.
As a matter of fact, the statement made by the People’s Bank of China is not the first. It looks like it won’t be the last. The government, which has been against crypto money for a long time, has also banned mining in its previous statements. The latest statements once again reminded the government’s view on cryptocurrencies.
Bitcoin fell to $ 42 thousand after the announcement
According to the statement made by the People’s Bank of China, it is completely prohibited to make transactions related to crypto money in the country. In addition, companies with headquarters in other countries are also prohibited from providing services in China. Bitcoin, which started to lose value immediately after this statement, dropped from $ 45 thousand to $ 42 thousand.
The data we received from Coinmarketcap reveals that the situation in the markets is seriously distressing. Because all of the world’s 10 most popular cryptocurrencies went upside down after the announcement. In this context, Dogecoin became the most depreciated name of the 10 most popular cryptocurrencies with a decrease of 8.9 percent.
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