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Bitcoin Blitz under $ 45,000 short

is currently back in focus and was able to gain almost 70 percent in value in just a few weeks. That seems illogical at first, because Bitcoin has been heavily regulated in China since June. The government in China even said that Bitcoin disrupts the economic order and makes money laundering easier. Because of this, many server farms in China that deal exclusively with Bitcoin were closed. Around 70 percent of all Bitcoin miners worldwide have so far been based in China, but now almost all Bitcoin mining pools in the Middle Kingdom are closed and had to move. What exactly that means for Bitcoin and whether the current price rally is sustainable or my theory of lightning is now taking effect, I discuss in the video. The fact is that the end of the mining farms in China only partially served the Bitcoin bears as a catalyst for falling prices.

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Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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