The crypto world started to bounce back yesterday after plummeting to its lowest level of 2021 earlier in the week. However, the signs of recovery appear to have been short-lived as Bitcoin (BTC) has now fallen again from $ 33,767 at 12.15am to $ 32,420 at 4.25am, which is a 3.99 percent drop. Meanwhile, Ethereum (ETH) fell from $ 1,972 at 0.20am to $ 1,896 at 3.50am – a 3.85 percent drop.
Meme coin Dogecoin (DOGE) also dropped from $ 0.2427 at 1am to $ 0.2235 at 3.15am after experiencing a 7.91 percent drop.
But Cardano (ADA) rose as it went from $ 1.21 at 2.30am to $ 1.31 at 5.45am, working out to a 8.26 percent rise.
Bitcoin in particular has had a tough week after it tumbled below $ 30,000 for the first time in five months following China’s announcement of its crypto-crackdown.
On Tuesday, it fell to about $ 28,890 and lost more than 50 percent of its value after reaching an all-time high of $ 64,870 in April.
It comes after banks in China were recently told not to accept cryptocurrency transactions.
Chinese authorise also forced Bitcoin mining in the province of Sichuan to cease last week.
The crackdown has sparked chaos as China made up around 65 percent of global Bitcoin production last year alone.
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This post originally appeared on Daily Express :: Finance Feed