Today, CoinMarketCap goes into why Bitcoin could be crashing, and why PlanB is still bullish.
Today’s Top Crypto News Stories
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Bitcoin Falls as China Clamps Down 🇨🇳
Bitcoin fell to lows of $31,780.79 on Monday amid fears that a crypto crackdown launched by China is going to be even harsher than first feared. Beijing summoned a number of banks and urged them to ramp up efforts to identify those participating in crypto transactions. At the time of writing, BTC is down 20% on where it was one week ago. Here's the latest.
PlanB Remains as Bullish as Ever 🚀
PlanB thinks there's plenty of upside ahead. The creator of the stock-to-flow model has revealed his Bitcoin price forecast for the rest of 2021 — and thinks we're going to see a big surge. His "worst-case scenario" indicates prices will hit $47,000 in August, $43,000 in September, $63,000 in October, $98,000 in November and $135,000 in December. Read more.
U.K. Bank Bans 5M from Buying Crypto ❌
More than five million Britons are going to be banned from buying cryptocurrencies by one of the country’s biggest banks. TSB’s clampdown, reported by The Telegraph, is said to be linked to “excessively high” fraud rates. It fears that financial scammers are duping customers and using exchanges to convert cash into untraceable assets. Our story.
Dogecoin Racing Car Crashes 🏎
Sometimes, life imitates art. Dogecoin suffered a setback on Friday when a race car illustrated with the cryptocurrency’s logo crashed during a NASCAR event in Nashville. DOGE suffered similar pain in Monday's trading. It's the worst performing altcoin in the top ten with 24-hour losses of 11.75%, and it's down 30% on a week ago. See what happened.
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