November 26 Price Analysis: BTC, ETH, BCH, XMR, BNB, EOS, XLM, TRX, XVG, BAT
How did China’s move towards cryptocurrency exchanges affect the selling pressure in the markets? We’re reviewing the charts!
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As seen in the charts, the announcement of China’s move towards cryptocurrency exchanges resulted in a significant increase in selling pressure in the markets. The value of Bitcoin, for example, decreased from over $4,000 to just above $3,000 in a matter of days. Other cryptocurrencies such as Ethereum and Litecoin also experienced similar dips in value. This selling pressure can be attributed to the uncertainty and fear surrounding the future of cryptocurrency in China, an important market for the industry. Additionally, the closure of cryptocurrency exchanges in China further impacted the market by reducing trading volume and liquidity. Overall, China’s move towards cryptocurrency exchanges had a notable effect on the market, leading to a decrease in value for many cryptocurrencies.
