Bitcoin continues its hellish decline

Bitcoin lost more than 10% on Sunday, still fined by the twists and turns of Chinese regulators against the very best identity of cryptocurrencies. Bitcoin gives 10.54%, at 5:40 pm, to 33,548.35. Since April 14, it has lost 48% from a record high of 8 64,895.22. China has recently announced that it will ban financial institutions from providing cryptocurrency-related services and tighten regulations. “Mineage” And bitcoin exchanges. Chinese regulators have publicly warned investors against speculation about this type of financial asset.

Tesla CEO Elon Musk provoked significant downward movement last week by denouncing energy consumption “Crazy Girl” He says he no longer accepts Bitcoin as a means of production and payment for his group’s electric cars. The diversification property that provides protection against inflation is often offered by its supporters, and Bitcoin is condemned by its rivals for its extreme volatility and speculative nature. Against that backdrop, its main competitor Ether lost 15.83% to $ 1,932.91 on Sunday.