Bitcoin and cryptocurrency prices have been falling in recent weeks as China‘s crypto crackdown has become more severe.
Bitcoin’s price collapsed in May, losing half of its worth, and has been under pressure ever since. Meanwhile, ethereum, the second-largest cryptocurrency after bitcoin, has lost more than half of its value, with the price of an ether token battling to stay over $2,000.
Analysts have cautioned that crypto prices are “in danger” following allegations that former bitcoin and ethereum miners in China have been dumping GPUs, indicating that at least some of the banned Chinese mining power may not return.
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