Bitcoin falls: why China and the US are to blame
No one would argue that the crypto industry is going through difficult times. Market leaders are frankly falling in value, and major powers are trying to put pressure on the digital industry in every possible way. And among the leaders of such a “militia” against the Blockchain are quite serious states. We are talking about the US and China. Surprisingly, these two rival powers were able to unite in one – the desire to deal an irreparable blow to large digital assets. That is why below we will tell you everything that is known about the upcoming projects and the measures already taken to limit the Blockchain. So let’s get started.
How China works
Many experts, pricing specialists associate the fall in the value of Bitcoin and other market leaders with the actions of China. Indeed, not so long ago, the government banned mining of digital assets. Mining is under the threat of a complete shutdown of all installations in the country. Then the government and controlled structures took a number of measures that limit the growth of blockchain popularity. Thanks to the adopted bills, any activity using cryptocurrencies has become illegal. And now representatives of Hong Kong, which is inextricably linked with China, intend to limit the activities of digital exchanges. All sites involved in conducting monetary transactions with cryptocurrency will have to go through a complex licensing procedure.
The need to obtain permits has also hit Chinese users hard. Many are absolutely sure that the country will completely prohibit any mention and even more so the use of digital assets. But at the same time, we recall that China continues to develop its own analogue of the yen. But in a digital, modern equivalent. It is quite possible that by such actions the Chinese authorities are clearing the field for their future project. And they are not alone in their quest to oppress the digital industry. Strange as it may seem, but the United States has joined the prohibitions and restrictions. Next, we will talk about how exactly the United States is influencing the fall of the entire digital market.
What the US is doing
For now, the United States is acting like the Chinese example. On the one hand, we see statements that American specialists are intensively studying the intricacies of the digital token device. And at the state level. But at the same time, financial regulators are preparing a bill that will force all exchanges and other platforms to notify of transfers exceeding $ 10,000. It is possible that such actions will force serious companies to abandon the use of digital assets. Obviously, this step is being taken to paralyze large structures using modern means of calculation. In addition, it should be noted that the US does not intend to completely ban Bitcoin.
At least that’s what leading experts say. According to analysts and serious experts, it is much more profitable for America to make Bitcoin its own manual creation, which can be regulated, changed and limited. However, complete bans are not yet planned. Nevertheless, today we are already seeing a major blow to the price tag of the industry’s first cryptocurrencies
Bitcoin fell below 37 thousand and recovered with difficulty. One cannot even dream of the previous price indicators. Anyway, at this stage. We have no doubt that the digital market will weather the pressure and recover from the constraints. In such a difficult situation, it is extremely important to maintain composure and follow the news of the cryptoindustry. We regularly publish the latest news about Blockchain and high technologies. So stay tuned. Thanks for attention. Good luck!