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Bitcoin fell by $ 2.5 thousand on Monday

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Bitcoin fell

Bitcoin fell by $ 2.5 thousand on Monday

Bitcoin fell by $ 2.5 thousand on Monday. The cost of the first cryptocurrency began to decline after it approached the $ 36 thousand mark on the night of July 5.

bitcoin fell

On Monday, July 5, the bitcoin rate fell by $ 2.5 thousand, to the current level of $ 33.6 thousand. At night, cryptocurrency quotes reached $ 35.9 thousand, after which they began to decline. Bitcoin’s market capitalization at the time of writing is $ 628 billion with daily trading volumes of $ 24 billion, according to CoinGecko.

Bitcoin has been under pressure since miners started leaving China. Four provinces have introduced a complete ban on cryptocurrency mining, and local banks and other financial institutions have been banned from conducting transactions related to digital assets.

Last week, Galaxy Digital CEO Mike Novogratz called the miners’ departure from China a positive development for cryptocurrencies. According to Novogratz, tough bans have failed to destroy bitcoin, and the migration of miners is a “big positive.”

At the same time, the CEO of the cryptanalytic company ADVFN Clem Chambers warned that the bitcoin rate could fall to $ 10 thousand and even to $ 7 thousand before returning to growth. Chambers explained his prediction by the recurring market cycles of the first cryptocurrency.

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Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.

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