Bitcoin (BTC) dropped $ 1,000 in minutes on June 21 when breaking news from China handled to push the bulls again.

China’s third biggest bank warns of cryptocurrencies

Data from Cointelegraph Markets Pro and TradingView reveal that BTC / USD hit a national low below $32,500 on Monday.

The trigger, which shook a recovery day after another slump, seems to come once again from China via a significant bank to explain affirms that they won’t enable using the solutions for Bitcoin or cryptocurrency associated trades.

China’s third biggest lender, the Agricultural Bank of China, is involved.

“The declaration emphasizes that once the relevant acts are uncovered, account transactions are immediately suspended, customer relationships are terminated and relevant departments are reported. fox ”, journalist Colin Wuin report on Twitter.

The consequent volatility, while shocking, is in accord with the behaviour of previous Chinese announcements. The country is now a source of headaches for Bitcoin speculators in recent weeks as miners face tough crackdowns and officials reiterated limitations on the cryptocurrency because 2017.

Related: Bitcoin price could reach $450,000 in 2021, with $135,000 being the “worst case” – PlanB

However, as Cointelegraph reported, many assert that the price pressures are an overreaction and that Bitcoin will finally benefit from breaking from reliance on China.

Ah more Chinese FUD.
It’s fine that we’re consistent.

– Paolo Ardoino (@paoloardoino) June 21, 2021

“The Bitcoin network just experienced the biggest attack in history,” stated Charles Edwards, CEO of asset management firm Capriole, speak On Sunday.

“The worst-case scenario for China’s mining ban is now in place.”