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Its due to that, automated selling probably, but mostly because of China adding increased scrutiny. CN is one of the biggest bases of bitcoin: https://www.cnn

Its due to that, automated selling probably, but mostly because of China adding increased scrutiny. CN is one of the biggest bases of bitcoin: https://www.cnn.com/2021/05/19/investing/bitcoin-price-drop-china-crypto-intl-hnk/index.html https://www.cnn.com/2021/05/19/investing/bitcoin-price-drop-...

AlexandrB 5y ago
Bitcoin is a "decentralized" digital currency.
- kevingadd 5y ago
  Only if hashrate is decentralized, and it's not. A significant portion of all hashrate is in China.
  - overtmind 5y ago
    That's largely dependent on the ebb and flow of hydraulic power
- rchaud 5y ago
  Much in the same way as how North Korea is a democratic people's republic.
varispeed 5y ago
Well, China was very close of getting over 50% of hash rate, so this news is good for Bitcoin... /s