New York Bitcoin will soon become worthless: it was recently announced by the Chinese state newspaper “Economic Daily”. According to the verdict, if investor confidence is low in the future or sovereign countries have declared the digital currency illegal, it will return to its original value. And that’s zero dollars.
This statement is not surprising at first, as the Chinese government has always strictly regulated cryptocurrencies. Last year the central bank declared all transactions involving bitcoin illegal.
But a look at the crypto markets confirms the doom and gloom of the Chinese: Bitcoin has lost more than half of its value since the start of the year, with the second-largest cryptocurrency, Ethereum, losing nearly two-thirds during the period.
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