Tag Archives: Litecoin

Cryptocurrencies Slump as China’s Central Bank says all cryptocurrency-related transactions are illegal

Cryptocurrencies are under severe selling pressure after China’s Central Bank says all cryptocurrency transactions are illegal.

According to an announcement in its website the People’s Bank of China (PBOC) says that all cryptocurrencies, including bitcoin, ethereum and tether, are not fiat currencies and cannot be circulated on the market. China Central Bank also says that overseas Cryptocurrency exchanges must not provide services to mainland investors

On the news Bitcoin is down 4.61% at 42573, Ethereum is down 7.92% at 2890, litecoin is giving up 8.08% at 150.67 while Ripple is 7.66% lower at 0.9240.

The History of Chinese Cryptocurrencies bans

On December 6, 2013, China banned bitcoin and the price of BTC lost almost half of its value from $1200 to $800.

On June 20, 2021, China banned almost 90% of the miners.

AMC Theaters Will Accept Ethereum, Litecoin and Bitcoin Cash

In a tweet yesterday night, Adam Aron the CEO of AMC Theaters announced that the company will accept Ethereum, Litecoin and Bitcoin Cash as payment methods by year-end.

AMC Theaters announced in August that it will accept bitcoin as payment. The company also added google pay and Apple pay in its payment methods.

The Cryptocurrencies market has seen a lot of good news during 2021. Tesla announced that it will accept bitcoin as payment and paypal also run into the crypto world.

In premarket trading, AMC is 1.39% lower at 46.19, the stock closed at $46,84 yesterday. The stock is up 38.50% the last month and 2,109% higher year-to-date.  

As of writing Ethereum (ETHUSD) trades 1.62% higher at 3610, Litecoin (LTCUSD) is adding 1.99% at 193.10, on the other hand Bitcoin Cash is 1.75% lower at 641.66.