A community-oriented approach with a progressive editorial stance, striving for transparency and encouraging readers to consider multiple perspectives.

Saturday, June 21, 2025
booked.netCall us at 613-935-3763
Eco-conscious : Print an issue, plant a tree! 

No products in the cart.

  • About
    • Contributors
    • Disclaimers
    • Terms & Conditions
    • Giving back
    • Mission Statement
    • Past Issues
    • Where to Find
    • Call us at 613-935-3763
The Seeker - Positively Local, Suporting Local
  • Home
  • News
  • The Soapbox
  • Columnists
  • Events
  • Advertise!
    • Online
    • In Print
  • Puzzles
  • Videos
Seeker
No Result
View All Result

China Continues Its Crypto Crackdown – Bitcoin Still Under Pressure

The Seeker by The Seeker
June 10, 2021
in This May Also Interest You
Reading Time: 3 mins read
0
round silver and gold coins

Photo by David McBee on Pexels.com

The Chinese cryptocurrency crackdown continues in 2021, as regulators supervised by the People’s Bank of China and the China Insurance and Banking Committee issued a statement in which they’ve targeted the speculative nature of cryptocurrencies. They’ve also advised financial institutions and payment companies to not participate in any crypto-related transactions or provide such services to their customers.

As the country had started testing the Digital Yuan in several different regions, Bitcoin and other altcoins are now viewed as a threat by the Chinese regime and there is no evidence suggesting the pressure on the cryptocurrency market might ease.

You might also like

Why Sustainable Weight Loss Often Takes Longer Than Expected

What to Consider Before Starting a Home Renovation

Multi-hyphenating in Canadian Indie Filmmaking: Insights from Toronto-based Film Producer Bardya Ziaian

Most of the large exchanges and crypto-related companies have moved their headquarters outside of China a few years ago already, but the most important aspect recently has been the deteriorating Bitcoin sentiment. It led to a +50% price correction and doubts over whether the market bull run can continue to extend higher in the months ahead.

Bitcoin struggling to recover

In light of increased regulatory pressure from China and other major countries, the Bitcoin price was hit by a strong wave of selling, dropping from close to $65,000 all the way to $30,000, erasing almost all the gains for the year.

Although the selloff looks to be contained for the time being, with the price hovering close to $40,000, Bitcoin buyers continue to show hesitation, as the recovery has yet to pick up momentum. Same as in 2018, the fear of regulation seems to be creating uncertainty and in such an environment, market participants need to embrace a completely different approach when wanting to get involved in the cryptocurrency market.

Cryptocurrency trading – a more viable approach?

All the regulatory hurdles are creating issues for individuals and companies holding physical crypto and using traditional cryptocurrency exchange platforms. That’s not the case when it comes to brands like CF Global Trader, which specialize in cryptocurrency trading.

This means people can take advantage of the volatility in the market by using derivatives based on cryptocurrencies, without ownership. Trading Bitcoin and other altcoins has become more viable during the past several weeks since the bull run seems to have taken a break and market participants need to look after opportunities when prices are falling.

A cryptocurrency trading platform like CF Global Trader covers hundreds of crypto-based trading instruments, including altcoins like Dogecoin, Stellar, Tron, EOS, IOTA, or Dash. Benefits such as low initial deposit, personal education, trading alerts, signals, and daily market updates are available with CF Global Trader and can incentivize Canadian residents to look for alternatives to traditional crypto exchange platforms.

The bottom line

Uncertainty in the cryptocurrency market has increased as China and the USA, and other Western countries are showing a willingness to regulate crypto once again. Faced with such prospects, retail traders should take a close look at trading platforms such as CF Global Trader, since it represents a solution to gain exposure to Bitcoin and other cryptocurrencies, using an infrastructure compliant with regulation and some of the highest trading standards.

The Seeker

The Seeker

Next Post
close up view of person holding a vaccine

EOHU Adds Additional COVID-19 Vaccination Clinics in June

Categories

  • Business & Finances (15)
  • Columns (626)
    • Archived (115)
      • Filter-Free Zone (9)
      • For What it's Worth (37)
      • Fostering Change (2)
      • Memo from the Mayor (2)
      • Men Writes (26)
      • Mortgage Tips (1)
      • Seeker Snippets (22)
      • Take Note (6)
      • Which Witch is Witch? (10)
    • Current (389)
      • Appreciating Contemporary Art (2)
      • Discover SD&G (36)
      • Fashionably Marlene (13)
      • From Sharyn's Pantry (7)
      • Gardening – Ask Anna (27)
      • Grant Spills the Gravy (10)
      • Jay's Tech & Cyber Insights (4)
      • Keeping it Reel (27)
      • Local Spins from Bud's Records (9)
      • Louise Mignault (58)
      • Mental Health Matters (10)
      • Out and About (51)
      • Outdoor Club (23)
      • Reality Bytes (8)
      • roadSIGNS (31)
      • Smart Move with Sondra (3)
      • The Resilient Life (5)
      • Transition Cornwall+ (16)
      • What I'm Reading (2)
      • Wondrous Life (33)
      • Yafa Arts & Craft (21)
    • Friends of the Cline House (1)
  • Douris Deliberations (6)
  • Events (1)
  • Health & Fitness (10)
  • Home & Garden (11)
  • Interviews (156)
    • 5 questions with… (106)
    • Business Profiles (1)
    • Locals in the Loupe (47)
  • Leisure & Lifestyle (736)
  • News (2,567)
    • Ontario (1)
  • Politics (24)
    • Federal Elections (10)
    • Provincial Elections (10)
  • Science & Technology (46)
  • Sports (3)
  • The Adventures of D.B Cooper (1)
  • The Soapbox (259)
    • Agree to Disagree (114)
  • This May Also Interest You (1,575)
  • Travel (52)
  • You May Also Like (969)
Facebook Twitter Instagram Youtube TikTok
Don't miss anything!

Get notified of all our new news by ringing the bell at the bottom left corner!

Content Safety

HERO

theseeker.ca

Trustworthy

Approved by Sur.ly

2024
Disclaimers
Stock Photos partially provided by our partner Depositphotos
The Seeker Newspaper is located at 327 Second Street E., Cornwall, ON K6H 1Y8 -- All rights reserved
The Seeker does not accept responsibility for errors, misprints or inaccuracies published within.Please note that the views and opinions expressed in news article are solely those of the authors and do not necessarily reflect the official policy or position of The Seeker. The content provided is for informational purposes only and has been written from the authors’ perspective, aiming to engage and inform readers. The Seeker is committed to presenting a wide range of viewpoints and encourages readers to conduct their own research and exercise critical thinking when considering these opinions in the context of their own perspectives.
ISSN 2562-1750 (Print)

ISSN 2562-1769 (Online)
No Result
View All Result
  • Home
  • News
  • The Soapbox
  • Columnists
  • Events
  • Advertise!
    • Online
    • In Print
  • Puzzles
  • Videos

© 2023 Reducing our footprint!   For every issue we print, we plant a tree!

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.