The second slide is mainly due to China’s announcement that it intends to take even stronger action against mining and trading in cryptocurrencies. According to Chinese Deputy Prime Minister Liu He and the State Council, China wants to protect the financial system, as CNBC writes. Meanwhile, China’s state bank is working on a digital currency itself.
On Friday morning, the Bitcoin rate then fell from almost 42,000 to below 40,000 dollars. The course of the largest crypto currency then posted an even stronger slide in the afternoon. According to Coinmarketcap, it went downhill by around $ 5,000 to a good $ 36,500 within two hours.