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Bitcoin collapsed amid a possible total ban on cryptocurrencies in Russia

Yesterday, the Bank of Russia announced its position on the regulation of cryptocurrencies in Russia, and this position is simple – a total ban, including mining. Against this background, the rate of the world’s main cryptocurrency has fallen dramatically: if yesterday afternoon it reached $43,000 per 1 BTC, then this morning it dropped to $38,300. At the time of writing, 1 BTC is worth $38,800.

Along with Bitcoin, other cryptocurrencies are falling, and falling more. So, the Ethereum rate fell by almost 8.5% at once (for 1 ETH they now give about $ 2850), Binance Coin, Cardano and Avalanche fell by more than 9%. In the top 10, Terra loses the least – about 4.5%.

Bitcoin collapsed amid a possible total ban on cryptocurrencies in Russia

In general, the market capitalization decreased by 7.45% over the day, to $1.83 trillion. And this is a significant drop.

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