After China announced that it would begin ramping up its efforts to restrict the mining of cryptocurrency, the price of bitcoin (BTC-USD) fell to below $30,000 earlier this week, trading at a value not seen since the turn of the new year. The cryptocurrency has since rebounded slightly, now holding at a level just above $32,000.
Though the news and subsequent crash may have caused short term headaches in the crypto market, China’s crackdown on mining may actually benefit crypto in the long…
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