CRYPTOCURRENCY BIG CRASH IN CHINA, MORE THAN $400 MILLION WORTH OF CRYPTO HAS LIQUATED 🔥🔥🔥

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NOTE- Cryptocurrency is an unregulated digital currency and not a legal tender and subject to Market Risks. The info provided in our above post is not intended for any financial advice.

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In April-May, the Crypto Market has suffered from a Cryptocurrency crash in China, now another wave letting down its value. As the Chinese government striking down all these digital assets, a ban was imposed on them.

As a result, more than $400 million (roughly 2952 crores INR) worth of crypto liquated in a day. This impact resulted in an immense decline of the crypto trade on currencies such as Bitcoin and Etherum.

CASE STUDY:

On Friday, PBC(Public Bank of China) made crypto illegal and even announced whosoever spots doin' the trade will severely be executed. According to the reports by CoinMarketCap Bitcoin drop its value to $3000 shortly after banning and was even shuttled below $41000. But it has now recovered to $42733(roughly 31.54 lakhs INR).

The shutdown of crypto begins this year when the government of China ordered no transactions related to digital assets. Nevertheless, this situation becomes even intense when the crypto value was drained to $30000, but now it steadily increased to $50000 this made investors have a big question about Whether to invest in it or not?

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