Bitcoin falls sharply amid a new strain of COVID-19 The rate of bitcoin fell sharply on Friday. As of today, the first cryptocurrency is trading at $54,275 (-7.63% in the past 24 hours). The decline in cryptocurrencies occurs simultaneously with a pullback in the stock market, whose participants are getting rid of the riskiest assets amid reports about the emergence of a new strain of the COVID-19 virus. A new strain of the coronavirus has been identified in South Africa, and local scientists have already described it as a “very unusual combination of mutations” against which existing vaccines may prove less effective.
China plans to track cryptocurrency transactions
The People’s Bank of China proposed creating a system to track cryptocurrency transactions Guo Wenjun, director of the Anti-Money Laundering Monitoring and Analysis Center of the People’s Bank of China, proposed creating a system to track cryptocurrency transactions. Wenjun said, “As virtual assets pose increasing challenges to national currency sovereignty, anti-fraud, anti-money laundering and terrorist financing, international organizations and governments are increasing their oversight.” According to the official, the risks associated with cryptocurrencies must be managed from several angles.
Hillary Clinton said the manipulation of the crypto market by Russia and China Former Secretary of State and Democratic presidential candidate Hillary Clinton called for stricter regulation of the cryptocurrency market to protect against technological manipulation by Russia and China. Clinton said the danger comes not only from the authorities, but also from private organizations that use cryptocurrencies and other technology to destabilize the dollar as a reserve currency.
Clinton said: “We’re not just watching countries like China, Russia and others that are manipulating technology of all kinds to their advantage. We’re also watching private actors who are either working with states or on their own to destabilize the dollar as a reserve currency.”
Current crypto market situation
The total capitalization of the cryptocurrency market as of 4:45 p.m. is $2,450,464,026,744. 24-hour trading volume was $170,318,547,906 Bitcoin fell 7.63% to $54,275 Ethereum fell 9.27% to $4050.57 Tether rose 0.04% to $1 Cardano fell 11.09% to $1.55 Binance Coin fell 7.12% to $589.15 Best growth among the top 100 cryptocurrencies showed: Ankr (+16.66%). Mining profitability Bitcoin: $0.311 per 1 TH/s Ether: $0.07 per 1 MH/s Bitcoin Cash: $0.3166 per 1 TH/s Lightcoin: $4.7409 per 1 GH/s Dash: $0.0441 per 1 GH/s