Bitcoin Stock Price Down. What Does It Mean?

China withdrew from the bitcoin stock races recently, and that significantly dropped the price of the cryptocurrency. From 44,000, it came down to 32,000 the following week. Though China has been enforcing the crackdown on bitcoin trading and mining since 2017, they now have more points of concern. For instance, the rapid increase of power usage and environmental footprint due to digital currency trading. Entrepreneur Mark Cuban believes this is a “Great Unwind” because it created a rippling effect in the buyer chain. Digital trader Barry Silbert, however, lauds the incident stating that traders of cryptocurrencies have now become long-term investors because the short-term benefactors just left the field. Watch more in this Fox Business video.

The post Bitcoin Stock Price Down. What Does It Mean? appeared first on AITS CAI’s Accelerating IT Success.

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