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Cryptocurrencies tumble amid China crackdown on bitcoin miners

Cryptocurrencies tumbled on Monday as China's crackdown on bitcoin mining expanded to the province of Sichuan

Bitcoin, cryptocurrency
Reuters TOKYO
1 min read Last Updated : Jun 21 2021 | 2:10 PM IST

TOKYO (Reuters) - Cryptocurrencies tumbled on Monday as China's crackdown on bitcoin mining expanded to the province of Sichuan.

Bitcoin fell to as low as $32,288 for the first time since June 8, and was last down 7.9% at around $32,781.

Smaller rival ether dropped below $2,000 for the first time since May 23, before trading 10% lower at 2019.01.

Cryptomining is big business in China, accounting for more than half of global bitcoin production.

 

(Reporting by Kevin Buckland; Editing by Toby Chopra)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Topics :cryptocurrenciesChinaBitcoin slides

First Published: Jun 21 2021 | 2:10 PM IST

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