Cryptocurrencies Are Falling Back And Here’s Why By Investing.com

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© Reuters.

Investing.com – In a fresh crackdown on digital currencies from China, Chinas central bank pledged Friday to crack down on illegal crypto-trading activities and ban overseas exchanges from providing services to Chinas online investors.

The People’s Bank of China also said it would ban financial institutions, payment companies and internet companies from facilitating trading, and would strengthen monitoring of risks arising from such activities.

market now

It now stands at $42,813.7 for the symbol, down 3.36%.

And we record Ethereum 2864.87, down by 8.03%.

As for the cardano, it also did not escape the decline, and the cardano is now down by 4.43% to reach $2.1379 for the symbol.

As for recording 135,438, a decrease of 8.20%.

As well as Polkadt, Dogecoin and Avalanche, whose shares are covered in red, pointing to the downside, and their prices are united, in order, to 29.308 (-6.32%), 0.205154 (-7.94%) and 69.69 (-8.89%).

Bitcoin technical update

From a technical point of view, Bitcoin will be in danger of falling towards the 40K level if it breaks the support level at $42,500. On the other hand, the 200-day moving average is located at $45,690 an ounce, and you will need to reach this level to break the negativity.

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