Bitcoin on Tuesday evening declined to a 5-month low reportedly amid China’s intensifying crackdown against cryptocurrency mining in the nation. The biggest cryptocurrency sank as low as $29,511 at the time of filing this report, under $29,773 for the initial time due to the fact January 22, according to the information from CoinMarketCap. “China used to form a major market for both trading and mining. As this has got hit due to new strict regulations in the country, it is affecting the global market. China always has had varied and confusing regulations in the past, and after the corrections this time, the global market should become more resilient to uncertainties in China. This event will get recorded in history as one another event towards the decentralization of cryptocurrencies,” Sathvik Vishwanath, Co-Founder & CEO, Unocoin told TheSpuzz Online.
to be updated…