{"id":5879,"date":"2021-05-21T10:13:43","date_gmt":"2021-05-21T14:13:43","guid":{"rendered":"https:\/\/www.technewsday.com\/?p=5879"},"modified":"2021-08-03T11:10:33","modified_gmt":"2021-08-03T15:10:33","slug":"cryptocurrency-prices-plummet-after-china-reinstates-ban","status":"publish","type":"post","link":"https:\/\/technewsday.com\/staging\/cryptocurrency-prices-plummet-after-china-reinstates-ban\/","title":{"rendered":"Cryptocurrency Prices Plummet After China Reinstates Ban"},"content":{"rendered":"\n<p>Digital coins such as Bitcoin, Dogecoin, and other cryptocurrencies are plummeting after China reaffirmed its ban on financial institutions from engaging in cryptocurrency transactions.<\/p>\n\n\n\n<p>While Bitcoin&#8217;s price fell to a low of just over $37,000 on Wednesday morning, Ethereum and Dogecoin fell 27% and 29%, respectively, around the same time.<\/p>\n\n\n\n<p>Since the beginning of the pandemic, many cryptocurrencies have gained in value, with bitcoin peaking at nearly $65,000 in April.<\/p>\n\n\n\n<p>Since then, the price has continued to fall in value, with the most recent drop following Tesla CEO Elon Musk&#8217;s announcement that the company will no longer accept bitcoin as a means of payment because of the environmental impacts associated with mining bitcoin.<\/p>\n\n\n<p>For more information, read the <a href=\"https:\/\/www.cnet.com\/news\/bitcoin-ethereum-prices-drop-after-china-reiterates-ban-on-crypto-services\/\" target=\"_blank\" rel=\"noopener\">original story<\/a> in CNET.<\/p>","protected":false},"excerpt":{"rendered":"<p>Bitcoin and Ethereum prices drop after China reiterates ban on cryptocurrencies. <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9],"tags":[124],"class_list":["post-5879","post","type-post","status-publish","format-standard","hentry","category-todays-news","tag-bitcoin"],"acf":[],"_links":{"self":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/5879","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/comments?post=5879"}],"version-history":[{"count":4,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/5879\/revisions"}],"predecessor-version":[{"id":5911,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/posts\/5879\/revisions\/5911"}],"wp:attachment":[{"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/media?parent=5879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/categories?post=5879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/technewsday.com\/staging\/wp-json\/wp\/v2\/tags?post=5879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}