BitXLanka.Com- Sri Lanka Bitcoin & Crypto Currency Tracker logo BitXLanka.Com- Sri Lanka Bitcoin & Crypto Currency Tracker logo
Seeking Alpha 2021-06-22 16:08:49

Bitcoin goes green on day in major reversal

Plunging below $29K earlier in the session, bitcoin (BTC-USD) has bounced back above $32.4K and is now modestly positive for the day. Pretty much the entirely of the rest of the cryptocurrency market remains in the red, but well off session lows. Ether (ETH-USD) is now off just 0.25%. Even with the big reversal, bitcoin is down nearly 25% from week-ago levels, and of course down more than 50% from its all-time high of about $65K.As reported earlier, Beijing really seems to mean it this time with its crackdown on Bitcoin. "Miners are leaving China for good," writes Nic Carter in a piece for Coindesk. "All signals seem to be indicating the greatest shakeup in the geographic makeup of bitcoin mining since the start of the industrial mining era."In the short-term, writes Carter, there are many questions to be answered, but long-term, this is a good thing. "Whether it’s the U.S.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.