About: http://data.cimple.eu/news-article/7d864572cd5f6f5b2c10af54a20925b9abc28501dbe272566da9da09

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About: http://data.cimple.eu/news-article/7d864572cd5f6f5b2c10af54a20925b9abc28501dbe272566da9da09 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	Bitcoin fell underneath $30,000 on Tuesday for the first time in five months, hit by concerns over China's ongoing crackdown on the world's most popular cryptocurrency. At about 1230 GMT, bitcoin sank nine percent to as low as $29,624, attaining a level last seen in January, with analysts citing Chinese efforts to crack down on trading and mining operations. "Concerns mount over China's ongoing clampdown and fears that widespread acceptance of bitcoin and other digital currencies will be delayed because of concerns about their environmental impact," said analyst Fawad Razaqzada at trading site ThinkMarkets. Bitcoin also faces a green backlash because mining often uses electricity produced from fossil fuels, he noted. China has broadened a crackdown on its massive cryptocurrency mining industry with a ban on mines in the key southwestern province. Chinese mines power nearly 80 percent of the global trade in cryptocurrencies despite a domestic trading ban since 2017, but in recent months several provinces have ordered mines to close as Beijing turns a sharp eye to the industry. Authorities in the province of Sichuan ordered the closure of 26 mines last week, according to a notice widely circulated on Chinese social media and confirmed by a former bitcoin miner. Sichuan, a mountainous region in southwest China, is home to a large number of cryptocurrency mines, which require a colossal amount of energy supplied by the province's cheap and abundant hydropower. burs-rfj/wai
schema:headline	Bitcoin drops under $30,000 for first time in five months
schema:mentions	Sichuan Hydropower Digital currency Fossil fuel Cryptocurrency Bitcoin Social media China Southwest China Energy development Working animal Government of China Greenwich Mean Time
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-06-22 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	positive sentiment
http://data.cimple...readability_score	88 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

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