Bitcoin crashes After yet another Chinese crackdown How much power does China have over crypto? Speaking of crashes, Bitcoin! After hitting a mid-April high of 65,000 dollars, the price of bitcoin tumbled below 30,000 dollars. And China is to blame.
Bitcoin crashes After yet another Chinese crackdown How much power does China have over crypto? Speaking of crashes, Bitcoin! After hitting a mid-April high of 65,000 dollars, the price of bitcoin tumbled below 30,000 dollars. And China is to blame.
If China has that much pull then you have to question how decentralized cryptos are. All those random ass tokens are still informally pegged to BTC or ETH, you can see it in the charts. Maybe I’m ignorant, don’t understand how one crypto effects a different crypto ecosystem really.
Proof of work is a big waste of energy so maybe this is a good thing.