Bitcoin up 7% in one day

Bitcoin up 7% in one day

The first cryptocurrency rose to $31,400 after falling to $29,200 on 20 July

The value of bitcoin has risen by 7% in the past 24 hours. As of 14:40 MSK, the price of the first cryptocurrency stands at $31,400 and its capitalization exceeds $591 billion. Yesterday, 20 July, the digital coin's price dipped to $29,200 for the first time since 22 June.

The bitcoin price is under pressure amid negative news from China. On July 14, Anhui province imposed a total ban on mining. Also in June, four Chinese regions banned cryptocurrency mining, while Chinese banks and financial institutions were instructed not to engage in transactions involving digital assets.

Last Sunday, another recalculation brought bitcoin's mining complexity down to its lowest since January 2020 at 13.67 trillion hashes (T). Since mid-May, when the network's complexity reached an all-time high of 25.05 T, the drop has reached 45%.

The data is kept on the device itself and is not shared over the blockchain. The Tether Wallet functions by transmitting a hashed fingerprint of the user, which is essentially an irreversible combination of mixed numbers and letters.

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