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Posted on: Saturday 25 September 2021 – 7:44 PM | Last update: Saturday 25 September 2021 – 7:44 PM
The price of the cryptocurrency bitcoin has fallen by 1% since 5 p.m. Friday to $42,536 at 10 a.m. Saturday in New York, according to data compiled by Bloomberg News today.
Bitcoin prices fluctuated at an average rate of 3.7 percent, trading between 41 thousand and 701 dollars and 43 thousand and 228 dollars.
It is now down 34% from the high of $64,870 it reached on April 14.
Bitcoin lost 2.3% of its value in the past week and is up 47% so far this year.
Yesterday, the value of cryptocurrencies plunged as China intensified its efforts to curb speculation on cryptocurrency issuance.
Cryptocurrency-related shares were also under pressure, as Marathon Digital Holdings’ share fell by 6.6 percent, while Microstrategy’s shares lost 5.8 percent of its value.
Today, Bloomberg News Agency reported, citing a statement on the People’s Bank of China website, that all transactions related to cryptocurrency are illegal.
According to guidelines on the website of the China Economic Planning Commission, there is an urgent task for China to root out cryptocurrency issuance, and that China’s tough measures are important in order to meet its carbon emissions targets.