Bitcoin Price Drops Below $ 10,000 Amid Bad News From China
This night on Thursday, September 19, the price of the first cryptocurrency demonstrated a sharp drop in high volumes, falling by $ 500 in just an hour.
This led to the liquidation of long positions on the BitMEX exchange for a total of $ 154.7 million.
Altcoins, which hinted at the opening of the growing season a day earlier, followed the flagship of the market. At press time all participants of the TOP 10 CoinMarketCap rating except for Stellar (XLM) and USDT, are in the red zone.
In anticipation of the fall, the media confirmed that the central government of China plans to ban the mining industry in the country. Inner Mongolia Autonomous Region authorities have been instructed to detect and close illegal farms.
The same enterprises that pass the inspection will need to pay standard tariffs for some time, and then they will also have to leave the country.