Crypto market cap all time low amid china fud
Lately, the crypto market cap has been correlating within 24 hour a new all-time low was made bring crypto total market cap below 1.3 trillion.
The price of BTC and other alt-coins have been dipping as of today BTC has been down by over 7% with ETH and other high market cap coins below 7%
China third largest bank in agriculture on 21 June made an announcement on their social media page stating it prohibits the use of digital virtual currency for all transactions customers accounts related to such activities will lead to closure or suspension of account.
This was quite hilarious a few minutes later it was found that the above publication was deleted.
There are multiple market pullbacks caused by China FUD over the month in the market. miners have been faced with lots of new regulation-making the environment unfriendly for crypto users, I guess China enjoys watching the market dips by taking advantage of an average investor lots of trading account have been liquidated leading to investors losing their traded position to the market pullback.
If you're a trader I guess placing a proper stop loss on all trading positions will be wise to avoid liquidating all your assets.