The Putin administration has announced its intention to ban all trading and payment activities in cryptocurrencies in its territory, and the currencies have responded with sharp declines – even more than recorded in China’s announcement of its war on miners | Bitcoin was cut by about 48% compared to November and by 18% compared to last week The etherium was also hit along with the rest of the coins, albeit to a lesser extent | And what do the EU think about mining?
Shi Klein 23.01.2022
According to market data Which is regularly published by BusinessView Bitcoin now (17:06) stands at $ 35,323.0 per currency unit. This is a huge drop in its value, when during the last weekend it even dropped below $ 35,000.
The current collapse in the crypto market that has led investors to lose astronomical sums is mainly due to the market’s sharp response to Russia’s announcement of its intention to ban all crypto activities in the country. But the current downturn is a continuation of the one recorded when China declared war on cryptocurrencies in its territories, and a steady weakening of the world of cryptocurrencies.
The main currency in the crypto world, Bitcoin, now stands at about 48% less than its value in November, when Bitcoin crossed the 68,000 mark per currency unit. The total market value of Bitcoin now stands at about $ 624 billion, about 18% less than last week.
Atherium also experienced a decline over the weekend and now stands at about $ 2,429 per unit – a decrease of about 24% compared to one of its peaks recorded in November last year.
Recently, there was some optimism among lovers and investors of the world of cryptocurrencies, when Switzerland conducted a three-day experiment at five leading banks in its field, in which fees, millions of francs between banks, were transferred in cryptocurrencies. But that does not teach anything about Switzerland’s intentions, as most developed countries have recently discussed the possibility of applying digital currencies or similar gear.
It was also recently reported that the EU is already being asked by its leading countries to ban any and all bitcoin mining due to the much amount of electricity it requires.