Watch out for the loss of support By Investing.com



By Laura Sánchez

Investing.com – The week had started well. The cryptocurrency sector recovered its upward path, with him and him again touching all-time highs.

But, again, China has raised its voice to reaffirm that it will continue to pursue crypto mining in the country. This was stated by China’s state planner, the National Development and Reform Commission (NDRC), during a press conference on Tuesday.

For now, Bitcoin remains above $ 60,000 and Ethereum is trying to hold onto $ 4,200.

Earlier this year, China cracked down on bitcoin mining due to environmental factors, prompting an exodus of miners.

“Mining causes great energy consumption and carbon emissions. It does not have an active impact to lead industry development or scientific progress, ”NDRC spokeswoman Meng Wei said Tuesday, according to CNBC.

“The regulation of cryptocurrency mining activities has a significant meaning in optimizing our industrial structure, saving energy and reducing emissions, achieving the objectives of carbon emission and neutrality.”

The NDRC said it will focus on state-owned companies involved in cryptocurrency mining. It also said it is considering imposing “punitive electricity prices” against those who engage in cryptocurrency mining activities but pay a residential electricity price, CNBC notes.

China thus continues its persecution of the cryptocurrency sector that began to intensify since the beginning of this year.

Read also –

In addition, according to Matthew Dibb, director of operations of the crypto asset manager Stack Funds in statements collected by Reuters, “This is a pure spot sale and some short selling additions. Outside of this, there is no big news.”

The value of Bitcoin has more than doubled since June, driven by the widespread adoption of cryptocurrencies and, more recently, the launch of futures-based bitcoin exchange-traded funds in the United States.

Experts also remember the update implemented on Sunday, called Taproot, on Sunday that allows its blockchain to execute more complex Bitcoin transactions.

Read also:

Legal warning: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy / sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

About Admin

Check Also

Tips and tricks for Google Chrome to help you improve your privacy

Google Chrome logo. (photo: WallPaperSafari) Google Chrome surely he is Web navigator most popular among ... Read more

Leave a Reply

Your email address will not be published. Required fields are marked *