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Here's Why Bitcoin Dropped Today

TheMotleyFool

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Bitcoin (CRYPTO: BTC) tokens are worth about 15% more than they were at the start of 2021. Today, Bitcoin is dropping as investors digest both China's recent actions related to the cryptocurrency and a major bank's opinion on its future. As of 11:45 a.m. EDT, Bitcoin was down about 3%.

China has continued cracking down on Bitcoin this week as the country's Communist leadership seems uncomfortable with the lack of control over the digital currency. Today, JPMorgan Chase said the subsequent drop in Bitcoin still does not represent a buying opportunity, according to CNBC.

Source Fool.com

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