What is the reason for the decline of cryptocurrencies? .. A report that answers


Cryptocurrencies fell as the Chinese campaign against bitcoin mining activity extended to Sichuan Province, and bitcoin fell to as much as 32,288 dollars for the first time since June 8, and was in the latest trading, down 7.9% at about 32,781 dollars, according to CNBC. .

Its smaller rival, Ethereum, fell below $2,000 for the first time since May 23, trading 10 percent down at $201901.

According to some reports, Bitcoin is the original and most famous cryptocurrency that began trading in 2009. It was created by “Satoshi Nakamoto” and is a currency not controlled by central financial authorities such as governments, banks and central banks, and transferred directly between users via the Internet without any intermediaries .

Bitcoin is based on blockchain technology and is secured by advanced cryptography that provides users with a degree of anonymity.

With no central authority controlling supply, the value of Bitcoin depends on people’s trust in it, and so far it has been used primarily for speculation by financial traders rather than for real-world trading and payments.


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