Liu He, Vice Premier of the State Council of the China, said that he had issued an order to crack down on bitcoin mining and trading activity. A notice to this effect was published on the Chinese government’s official website.
Amid the announcement, the price of bitcoin plummeted 10 per cent from $41,750 to less than $38,000.
Not only is bitcoin in trouble now, but the cryptocurrency Chia is also in trouble. The graph shows that the currency does not have long to live. Investors may be saved by Burstcoin, which is not only stable but showing growth despite the problems in the cryptocurrency market.
Chia supports the two Chinese pools Hpool and UUpool. This is the reason why the news that China is banning mining has had such a big impact on Chia cryptocurrency.
Burstcoin has no such problem, as it is a multinational currency that does not depend on a single country’s government. In addition, it is worth noting that Burst is careful with HDD/SDD.