Why is crypto crashing? Cryptocurrency market price crash today - Bitcoin, Ethereum, Solana, Shiba Inu prices
Cryptocurrency market is down 3.58% on the last 24 hours (2.45pm, Friday 7 January 2022). After a year of gains and record highs, crypto currencies are enduring a turbulent time with unpredictable price changes.
Bitcoin and other leading crypto coins experienced a significant drop in share price after investors began dumping mining equipment as China announced fresh regulations.
It follows recent crashes brought on by Tesla making a u-turn on accepting Bitcoin as payment for its products and China clamping down on initial coin offerings, block exchanges and warned against speculative trading.
A further blow was dealt when China ordered Bitcoin mining in its Sichuan province to shut down completely and furthermore told banks to stop supporting crypto transactions, in a latest wave of restrictions on cryptos.
Now the country’s central bank, People’s Bank of China, has effectively banned digital coins after announcing all transactions of cryptocurrencies are illegal.
The decision has already had an impact on the global crypto market.
00:00 - Intro
01:32 - Crypto market
03:46 - Jobs report
06:07 - Ethereum price
13:24 - How low can the crypto markets go?
16:37 - Q&A
18:37 - What’s the best time to launch a defi or nft app?
20:29 - Adoption of blockchain tech
23:10 - Ethereum leads web developer count
26:15 - How to become a blockchain developer in 2022
29:04 - Conclusion