Bitcoin falls sharply to below $ 30,000
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Decrease the dominance of cryptocurrency The nations of the world are introducing digital currency and banning everything from crypto production to trade.
A few weeks ago, China introduced the digital yuan as a competitor to cryptocurrency, and in its success banned crypto production, trade, and investment.
Currently, Europe is competing with China in introducing the digital euro as a pilot project for public use. It is no exaggeration to say that this announcement has severely affected the crypto market.
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China's ban
The value of Bitcoin continues to fall, as the supply of Bitcoin in the market is expected to decline and its price to rise after the ban on Bitcoin and other cryptocurrencies in China.
The value of Bitcoin in today's trade has fallen below $ 30,000, the value of Bitcoin. Bitcoin has fallen as low as 5 percent to $ 29,700 for the first time, despite several fluctuations over the past month.
Bitcoin Growth The price of a bitcoin fell to a high of $ 29,306.77 in trading on Tuesday. With today's decline, Bitcoin's growth rate is projected to slow to 1.87 percent in 2021.
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European Central Bank
The main reason for today's decline is said to be the digital euro issued by the European Central Bank. At the same time, the declaration of Bitcoin as the official currency in El Salvador has not had a large-scale impact on the market, leaving its future in question.
Prediction of Bitcoin
Similarly, the value of Bitcoin is likely to fall below $ 20,000 this year, said Vijay, head of Asia trading at Luno, a Singapore-based crypto exchange.