Bitcoin’s Big Fall！What’s wrong with the crypto? 丨专访：货币圈怎么了

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Bitcoin’s Big Fall！What’s wrong with the crypto? 丨专访：货币圈怎么了

What’s wrong with the crypto? It was another bruising session for cryptocurrencies as margin calls started to add to the bad news for Bitcoin and Ether. A lot of crypto investors had been using borrowed money for extra leverage and the huge falls of the last few days have triggered forced sales of billions of dollars’ worth of those positions, pushing the price down even further. The People’s Bank of China added to some of the selling Tuesday when it reminded Chinese banks that crypto assets like Bitcoin aren’t legal currency in China and financial firms shouldn’t be helping people trade in it. Why Chinese government takes tightening measures towards cryptocurrency NOW? What’s the major driver of crypto volatility? Is China’s digital RMB a kind of cryptocurrency? We have with us Bobby Lee, Founder and CEO of Ballet, to share his insight views.

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