Bitcoin drops as hashrate declines with China mining crackdown

About 65% of the world’s Bitcoin mining took place in China as of April 2020, according to an estimate by the University of Cambridge. — Reuters

Bitcoin dropped over the weekend amid a focus on Chinese mine closures and potential regulatory scrutiny.

The largest cryptocurrency fell 5.5% to US$34,142 (RM141,740) as of 10.50am Sunday in New York, dropping for a fourth time in the past five sessions. Ether, the second-biggest, declined 5.9% to US$2,095 (RM8,697).