China’s Central Bank Ban Cryptocurrency and transactions
China’s Central Bank Ban Cryptocurrency and transactions. China made clear intention on crypto and ban the cryptocurrency and declared its transaction as illegal. What will be the impact of this on the crypto market we have to see that. Now the trading and mining of cryptocurrency are illegal.
The Ban on Cryptocurrency is not New
China’s Central Bank Ban Cryptocurrency and transactions. People are saying this ban is not new, China has already done this in past 2013. There will be a temporary impact on the market however it will not impact in the long run. China’s ban on crypto will result in a big opportunity for the US said, Pat Tommy. Whatever will be in the future but currently when the news came out Bitcoin lost almost $2000 in an hour. And the whole market was impacted by $ 150Billion in an hour. We have already got this news from weeks ago and the official declaration is made today. Hence the panic in the market is temporary and hope it will recover soon.
Social Media reactions on China’s central bank banning Cryptocurrency.
Tons of memes and jokes are shared on this BAN. The Crypto market started declining within an hour. People are also saying the ban will help the market and will be the right time to enter the market. Every time china baned crypto after a short period of decline it goes higher. Therefore there is not much to worry about and can think of entering the market. Dogecoin also falls by almost 10 percent. However, this panic is not big and less in comparison to earlier years.
Now let’s see if the ban is good or bad in long run. but currently, we have seen lots of panic sell in the crypto market. Please share your views and thoughts on China’s Central Bank Banning Cryptocurrency and its related transactions.
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