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Due to bad news from China, Bitcoin increased its decline and pushed back to the $34,000 level. In Korea, there is a threat of 40 million won.
As of 2 pm (Korea time) on the 21st, Bitcoin is recording $34,025, a drop of 5.08% from 24 hours ago on CoinMarketCap, a global coin market relay site. Bitcoin fell to the $33,000 level about an hour ago.
It is interpreted that this is because the shock from China continues. China’s Global Times reported on the same day that as of the 20th, 90% of mining companies in China were closed as Sichuan Province ordered closure of 26 bitcoin miners in the province on the 18th.
As the crackdown on bitcoin mining in China has been strengthened, cryptocurrencies such as bitcoin are all at once plummeting.
In addition to Bitcoin, Ethereum, the second-largest in terms of market capitalization, also plunged 4.91% from 24 hours ago to $2101. Cardano (Ada) is down 3.72% and Dogecoin is down 7.98%, respectively.
At the same time, on Upbit, a Korean trading site, Bitcoin is trading at 40,313,000 won, down 3.66% from 24 hours ago, threatening the 40 million won level.