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Bitcoin Price Drop Due to Protest In China
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[QUOTE="Wilbur Kwok, post: 284667, member: 91935"] Following a happy Thanksgiving weekend, the cryptocurrency market awoke with unfavorable news. Bitcoin fell in the early hours of the Asian trading day. As instability in China intensifies, this slump parallels the decline in Hong Kong and other equity markets. Bitcoin dropped by 3% to $16,000 on Monday, February 28 at 2:00 UTC before edging marginally higher. The same thing happened to significant coins. Ethereum is currently down roughly 4%, while Solana, BNB, and Litecoin are down about 7-9%. Despite the state of the market, Dogecoin is the lone survivor, increasing by 8%. Mass protests in China are currently causing turbulence in the world market. In response to the strict COVID-19 restrictions in the nation, Chinese citizens are protesting all around the country. The protest is spreading like wildfire and has scared off investors all around the world. Additionally, the timing of this demonstration puts the crypto markets at risk. As public anxiety soars to an unprecedented degree, the market is still struggling to recover from the FTX disaster. According to Reuters, there are still protests taking place in eight towns including on college campuses. In Shanghai, hundreds of protesters and police engaged in combat. Since President Xi Jinping took office a decade ago, this is currently the largest demonstration of discontent with the administration. [/QUOTE]
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Bitcoin Price Drop Due to Protest In China
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