Last minute! Okex Allegedly Raised Yuan Pair, Bitcoin Declined!
Claims that the Chinese stock markets will remove the Yuan pairs triggered the decline in Bitcoin.
Chinese journalist Colin Wu, Okex’s own cryptocurrency OKB Coinin OKB / RMB He announced that the (Chinese yuan) trade will cease on May 24.
One of China’s largest exchanges, OKEx stated that it will stop OKB’s fiat currency (RMB) trading at 14:00 on May 24. OKB is OKEx’s platform coin which has fallen by 63 in the last 7 days. pic.twitter.com/4jP1ZVZzL7
– Wu Blockchain (@WuBlockchain) May 23, 2021
Unfortunately, Chinese government officials’ statements about Bitcoin mining and digital yuan continue to hit the market.
Claims about Huobi and Okex, one of China’s major stock exchanges, raise the level of fear of investors. This fear is reflected in the market as a sale.
Shortly after the news about Okex spread, Bitcoin fell by 8 percent. Every negative news triggers a new sales wave in the market, which is already dominated by extreme fear.
Coin Wu stated that Chinese investors are deeply concerned that they will not be able to convert their cryptocurrencies into fiat currencies, and that fear lies at the basis of the sales.
Ethereum fell below $ 2,000. Chinese investors are worried that the government will ban the exchange of RMB and crypto, causing some investors to fear that they will not be able to exchange for fiat currency, so they sold. This may be the cause of today’s price drop. pic.twitter.com/WghcdIQh3I
– Wu Blockchain (@WuBlockchain) May 23, 2021
