Jakarta, CNN Indonesia –
Price bitcoin slipped to the position of US $ 40,728 per coin or the equivalent of Rp.582 million (exchange rate of Rp.14,290 per US dollar). Currency prices crypto- it fell after China strictly prohibits financial institutions in their country from serving cryptocurrency transactions.
Launch CNN Business, Wednesday (19/5), this price level is the lowest since February 2021. In total, the price of bitcoin has dropped 36 percent after setting a record high of US $ 63,347 per coin or around Rp. 905 million last April.
The price of bitcoin has actually started to fall since Tesla CEO Elon Musk said he was wary of the environmental impact of investing in cryptocurrencies. However, the heyday of the most popular cryptocurrency immediately dimmed when three Chinese financial industry groups issued a ban on crypto transactions.
The three groups, namely the National Internet Finance Association of China, the Chinese Banking Association, and the China Clearing and Payments Association.
“Recently, cryptocurrency prices have skyrocketed and plummeted, and cryptocurrency speculative trading has recovered, seriously violating the security of people’s property and disrupting the normal economic and financial order,” they said in a statement.
China’s cold attitude towards cryptocurrencies is actually not just this time. Since 2013, China has actually expressed the view that bitcoin is not a real currency and has prohibited financial and payment institutions from transacting using bitcoin.
China is of the view that bitcoin poses a risk for money laundering. In addition, the bamboo curtain country also assesses that the stability of the financial system can be maintained if the use of the yuan as a legal currency is protected.
Not only bitcoin, other crypto currencies have also been dragged into the downward trend in prices. The price of ethereum, for example, fell 14 percent to around US $ 2,978 per coin with an accumulated decline of 31 percent from its record high.
Likewise with Dogecoin, which fell 13 percent. Currently, the price is in the range of US $ 0.4 per coin. In fact, the price of Dogecoin has skyrocketed by 670 percent in the past year, while the price of bitcoin has risen 323 percent.
(uli / one)
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