Bitcoin drops sharply for the first time in months

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Bitcoin drops sharply for the first time in months to below $30,000

Once again, the value of the digital electronic currency, Bitcoin, has fallen to an unprecedented value for months, and this comes at a time when digital currencies in general and Bitcoin in particular are subjected to a series of tremors and reached their climax with the war that China is waging against digital currency mining.

The specialized Coin Desk website indicates that the value of Bitcoin has fallen to a level below $ 30,000, reaching exactly to the moment to $ 29,706, as Bitcoin has been locked in the wide price range from $ 30,000 to $ 40,000 since mid-May, and briefly broke below the $30,000 mark on June 22. The cryptocurrency was trading in passing at $29,700 per day after the People’s Bank of China ordered the country’s major financial institutions to do so. Stop facilitating crypto transactions.

And it seems that the wait about the future of Bitcoin is still negative, as the value of the most important digital currency in the world is expected to fall even more, and even for El Salvador, which announced earlier that it had adopted Bitcoin as an official currency, it was rejected by the World Bank, as “We are committed to helping El Salvador in several ways, including currency transparency and regulatory processes,” a World Bank spokesperson said. “Although the government has approached us for help with bitcoin, this is not something the World Bank can support given the environmental and transparency shortcomings.”

It is clear that Bitcoin is facing great difficulties through the crackdown on it, which may cause its value to continue dropping to around $22,000.