BTC Falls to $7000 or Chinese Impact on Crypto
The cryptocurrency exchanges, working illegally in China, are facing a new threat and BTC falls to $7000. The country’s central bank said the new measures for trading ban upholding are to be implemented.
On the 21st of November the People’s Bank of China media huge announcement saying that they are about to take new set of actions against the entities involved this way or that in trading crypto, especially BTC.
BTC Falls to $7000 as PBoC Makes Statements
A new move, BTC’s falling to almost $7000, was a response to the PBoC threat and warning that the exchanges will be disposed as soon as possible, even immediately. The trading activity increased after China’s public endorsement of Blockchain, s the government saw it necessary to implement new control measures. PBoC even vowed to dispose any trading activity which will be found out under its jurisdiction. They said that as soon as the activity is located, it will be disposed. However, preventing the appearance of such activity is also a point to be bought into practice, they say.
There are a lot of rumors about the situation with the cryptocurrencies in China. However, the community attention focused on the police raids to the Binance’s and Bithumb’s offices. But the Chinese representatives deny it.
BTC slid almost 10% and now are close to the $7000 mark., So the markets are rattling and another currencies go down in price as well.
For Blockchain But Against Crypto
PBoC cleared the government’s and explained that it is for blockchain technology. But strongly against crypto. They also warned the investors not to mix cryptocurrencies which are banned in China with blockchain. Tha later is having huge support from the authorities. These warnings appeared in the media but were not that clear. So now all the community got that China do has impact on Crypto. Though it is not that vivd as it can seem.