{"id":14092,"date":"2021-07-09T19:58:27","date_gmt":"2021-07-09T17:58:27","guid":{"rendered":"https:\/\/thecryptowolf.net\/2021\/07\/09\/heres-why-bitcoin-miners-are-heading-west\/"},"modified":"2021-07-09T19:58:27","modified_gmt":"2021-07-09T17:58:27","slug":"heres-why-bitcoin-miners-are-heading-west","status":"publish","type":"post","link":"https:\/\/thecryptowolf.net\/2021\/07\/09\/heres-why-bitcoin-miners-are-heading-west\/","title":{"rendered":"Here’s Why Bitcoin Miners Are Heading West"},"content":{"rendered":"
\"Here’s<\/div>

[ad_1]
\n<\/p>\n

<\/p>\n

Until recently, China accounted for more than half of all bitcoin mining. But since the crackdown by the Chinese government, market dominance is expected to shift to the west.\u00a0<\/p>\n

Part of the recent decline in Bitcoin and other cryptocurrency prices is thought to be related to the deluge of miners selling currencies for the cash needed to move their operations.\u00a0<\/p>\n

The recent ban on crypto mining<\/a> was instituted ostensibly for environmental concerns and to prevent criminal activity, but the recent\u00a0announcement by The\u00a0People\u2019s Bank of China will create an official digital currency, the\u00a0Digital Currency Electronic Payment<\/a>\u00a0(DCEP),\u00a0points to other motivations.<\/p>\n