Here's Why Dogecoin Just Dropped
Dogecoin (CRYPTO: DOGE) is trading down about 15% at nearly $0.22 as of 10:30 a.m. EDT. With its price down close to $0.20, the cryptocurrency is a long way from the $1 level many believers were hoping for as the price skyrocketed over the first several months of 2021.
There were two items of news on the cryptocurrency front this morning. The big news is the ongoing campaign China's government is waging against Bitcoin (CRYPTO: BTC). The People's Republic of China (PRC) has been cracking down on Bitcoin miners, driving Bitcoin's price to a level about 50% off its 2021 highs. And now China's PRC-controlled central bank has ordered Chinese banks and payment processors like Ant Group's Alipay to help throttle cryptocurrency trading, according to a report by The Wall Street Journal.
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Source Fool.com
