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Bitcoin Hashrate Plunging Amid China Crackdown

The bitcoin hashrate, which stands for the global computing power used to process transactions on the Bitcoin proof-of-work blockchain, is plunging to its lowest level since last November as several provinces in China are shutting down crypto miners. Christine Lee breaks down the data in today’s Chart of the Day.

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Markets

Looming ‘Death Cross’ Could Signal Bitcoin Bear Market

A death cross occurs when the 50-day moving average crosses below the 200-day moving average.

Bitcoin might be headed for a "death cross," potentially a worrying pattern on price charts.

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Chinese Police Arrest 1.1K People on Crypto-Related Money Laundering Charges

This is the fifth round of a nationwide crackdown on money-laundering activities related to telecom fraud in China, dubbed “Operation Card Breaking.”

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Videos

El Salvador Becomes First Country to Officially Adopt Bitcoin as Legal Tender

CoinDesk Global Policy and Regulation Managing Editor Nikhilesh De explains the significance and potential ripple effect of El Salvador officially adopting bitcoin as legal tender. Plus, a look at the U.S. Senate approving a $250 billion bipartisan technology and manufacturing bill to counter China on technological advancement.

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China's Qinghai Province Has Ordered All Crypto Miners to Shut Down

It follows orders to other provinces, including Xinjiang and Inner Mongolia, to shut down miners.

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Chinese Internet Services Are Censoring Binance, Huobi and OKEx-Related Keywords

The move comes as officials in mainland China have upped the pressure on crypto mining and trading.

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Some Xinjiang Bitcoin Miners Instructed to Shut Down: Report

The local government of Changji in Xinjiang has instructed miners at the Zhundong Economic Technological Development Park to shut down mining activities.

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Bitcoin Jumps Most in 2 Weeks to $36K After El Salvador Passes Currency Law

The cryptocurrency is up from a low price of about $31,000.

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Videos

India Crypto Feud Continues; Korea Mining Thief Busted

India’s crypto industry takes matters into its own hands. Canaan offers service in Kazakhstan as miners flee China, and a crypto thief in Seoul is busted. More on that story and other news shaping the cryptocurrency and blockchain world in this episode of “The Daily Forkast.”

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Bitcoin Suffers Steepest Drop in 10 Days as US Monetary Policy Causes 'Short-Term Jitters'

Bitcoin continues its descent amid whispers of U.S. Federal Reserve tapering economic stimulus and China's ongoing pressure on crypto miners.

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