Why China has declared war on Bitcoin

May 2021 was a dark day for cryptocurrency. In the wake of the unimaginable rise in digital assets, investors have experienced the largest virtual currency crash in its history. There were several reasons for this decline, but the main blow was caused by China, where about 70% of all mining farms are concentrated. The country's leadership introduced large-scale restrictions on cryptocurrency and evaporated $ 1 trillion from its global capitalization in a couple of days. Farms, which consume over 120 Terawatt-hours of electricity annually, have experienced a shock comparable to the atomic bombing of the financial sector. You’re on the Innovative Techs channel! Right now, we will tell you why China has declared war on cryptocurrency.
Don’t miss next videos: Press the little bell ((🔔)) to get notifications
Production Music courtesy of Epidemic Sound https://www.epidemicsound.com/

Видео Why China has declared war on Bitcoin канала Innovative Techs