Bitcoin heading to zero, says China state media amid global crypto downturn
— Zerothe, Price, China, Media, Amid, Chinese, Newspaper, State, Global, Heading, Low, Downturn, Digital, Periods, Bitcoin, Value, Investors, Zero, Crypto — 1 min read
Chinese state-run newspaper Economic Daily has warned investors that the price of leading is "heading to zero" The warning came as the market continued to face meltdown with hovering around $21,000 per digital coin on Saturday -- a substantial drop from its record high of $68,000 in November last year. The Chinese government banned Bitcoin mining in July last year and barred foreign crypto exchanges from operating within the country in 2018. Analysts say Bitcoin may hit a grim $14,000 this year -- a drop of around 80 per cent from its all-time high. The country has also banned all transactions last September and has plans to launch its central bank (CBDC) called the digital Chinese yuan (e-CNY) The price of Source