Saturday, September 25, 2021

Bitcoin Price at Sep. 25, 2021: 42,694 USD



Investors are certainly reacting to news of China shutting down all crypto activity.

The "CNBC Television" Channel on Youtube shows that Jon Najarian joins the Halftime Report to discuss China's new crackdown on digital currencies. Bitcoin stock plunged after this morning's (Sep 24, 2021) announcement.

Bitcoin and Ether tumbled Friday, with traders concerned with tough talk out of China.

The price of bitcoin fell about 5% to $42,496.12 (Sep. 24, 2021), according to Coin Metrics data. Ether, the second-largest digital currency, dropped 7% to $2,921.53 (Sep. 24, 2021).

This price change comes after the People’s Bank of China said in a Q&A that all crypto-related activities are illegal. Services offering trading, order matching or derivatives for virtual currencies are strictly prohibited, the PBOC said, while overseas exchanges are also illegal.

Bitcoin Price at Sep. 25, 2021: 42,694 USD

Bitcoin Price at July 1, 2021 was: 33,204 USD

Major falls of the price have happened in the past as China imposed various restrictions on transactions involving cryptocurrencies.

The Bitcoin cryptocurrency fell from a "record high" of $64,895 USD hit on April 14.

Falls in Bitcoin price will certainly be a problem for people that are getting "Salaries in Bitcoin."

Some may think that Bitcoin could drop to 20K USD. Investors should be careful.

2 comments:

  1. Sometimes it scares me how the bitcoin rate changes. Now sharply up, now down. I think about it because I transferred part of the money that I earned in the best casinos in Canada https://topcanadiancasinos.net/ into bitcoins. I don't trust banks and don't like keeping cash, so it was a good option. I'm not going to stop with a casino, so I will need to learn more about other cryptocurrencies.

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    Replies
    1. Yeah, it is scary how the Bitcoin rate changes. It increased greatly from its beginning. Be careful about casino - the betting odds could be against you.

      It seems indeed that currencies such as Bitcoin and Ethereum are increasing in October as the Crypto Market Price suddenly surged. September was a worse month for these currencies.

      The bitcoin price is now going close to $50,000 USD per bitcoin for the first time since early September while the ethereum price is approaching $3,500 per ether after certainly falling as low as $2,600 last month.

      There is certainly much speculation these days about bitcoin, ethereum and such cryptocurrencies.

      A long-awaited USA bitcoin exchange-traded fund (ETF) could be approved in October - keep yourself updated.

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