Editor's take: If there'due south one thing you demand to know almost cryptocurrency, it's that it is extremely volatile. It'south a lot similar riding a roller coaster, really, with enough of peaks and valleys along the way for the thrill seekers willing to accept the ride.

Case in point, Bitcoin, the world's most pop cryptocurrency based on marketplace cap, has lost more than half of its value since hitting a record high of more than than $63,000 only over two months ago.

Bitcoin has had a tremendous run in 2022, but all of the gains have been wiped off the table. As of this writing, Bitcoin is trading at $29,827.24, just a few hundred bucks college than the $29,333.61 it was at on January one, 2022.

The latest dip is directly related to China. Earlier this week, the People's Banking concern of China (PBC) told the nation's banks and payment institutions to end facilitating cryptocurrency transactions.

Co-ordinate to the PBC, "the speculative trading of virtual currencies will disrupt the normal operation of the economy and the fiscal market. It will give rising to risks of illegal and criminal activities such every bit illegal cross-border transfer of assets and money laundering, and seriously infringe the belongings prophylactic of the public."

Other countries aren't as concerned with Bitcoin. Earlier this month, for example, the Key American nation of El Salvador adopted the Bitcoin Law, making the crypto legal tender aslope the Usa dollar. Information technology hasn't been all smooth sailing, even so, as the Globe Banking concern recently decided not to assistance El salvador with its adoption due to environmental and transparency concerns.

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