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Tag Archives: Bitcoin

The Main Reason Behind China’s Crypto Ban

Oct 26, 2021

China banned the use of Bitcoin and other cryptocurrencies within its financial system and geographical space. Not only did it ban the use of cryptocurrencies, but it also moved to put a stop to all activities related to the new technology, including cryptocurrency mining and trading. While t...

Evergrande Crypto Crisis in China Hurts Crypto Market

Sep 23, 2021

Bitcoin price fell below $40K for the first time since August along with other cryptocurrencies. This drop appears to be contagion from the falling equity market, amidst fears that Chinese real estate giant Evergrande could slide into bankruptcy.  Evergrande, at the time of writing, remai...

China’s Mining Ban Focal to Crypto Market 20% Drop in Q2

Jul 15, 2021

Olusegun Ogundeji

Compared to Q1 2021, the crypto market experienced a 20% drop in market cap and 33% drop in trading volume in Q2 due to several factors including the nationwide crypto mining ban introduced by China, CoinGecko's Q2 2021 Cryptocurrency Report shows. The report, which gives a snapshot of ...

Digital Yuan Shows CBDC A Distant Cousin of Bitcoin

Jul 13, 2021

Olusegun Ogundeji

China’s central bank digital currency (CBDC) push is merely bringing to life what could be considered an extension of what cryptocurrencies could achieve, a fintech and China expert has suggested.  Richard Turrin, author of ‘Innovation Lab Excellence’ and ‘Cashless’, a book on C...

Meitu Reports Impairment Loss on $100 mln Crypto Investment 

Jul 9, 2021

Olusegun Ogundeji

Meitu Inc., the Hong Kong-listed company behind a popular image and video processing app, has said it will report in its interim results that it has incurred an impairment loss so far on its cryptocurrency investment.  The Chinese company is principally engaged in providing online adverti...

Miners Clampdown in China Good for Bitcoin in the Long Run

Jun 25, 2021

Recent Bitcoin predicaments have been compounded by the series of bans being carried out in China. Significant among these bans is the abolishment of mining activities within the country. The order to shut down Bitcoin mines has had a direct effect on the Bitcoin and cryptocurrency market, le...

Despite All, China Remains an Important Market for Crypto 

Jun 24, 2021

Olusegun Ogundeji

Following China’s crypto mining crackdown of the past few weeks, Bitcoin on-chain activity has fallen dramatically this week to return to levels not seen in a year, latest analysis from GlassNode shows. The analytics firm adds that the fall is making a simultaneous seismic shift possible in ...

It’s Blockchain, Not Bitcoin for China Again

Jun 9, 2021

Olusegun Ogundeji

In the wake of a crackdown on Bitcoin-related activities in China, including mining operations, the Chinese government on Monday June 7 issued a policy to reiterate its support for the blockchain technology. The top cryptocurrency has been under immense pressure of late with some of its C...