Bitcoin price crash LIVE – Cryptocurrency market plunges AGAIN amid China crackdown plus Ethereum and Dogecoin updates

THE cryptocurrency market has plunged once again as China cracked down on cryptocurrency mining.

Bitcoin is currently sitting at around 50% of its all time high, although a small rebound this morning saw its value rise from $32,000 to $36,000.

The Ethereum, Cardano and Dogecoin currencies are also suffering though all three remain significantly up on where they were at the start of 2021.

The market turmoil comes after China launched a cryptocurrency crackdown, which has led to top mining companies shutting down.

Mining for cryptocurrency isn’t actually a physical enterprise, rather it involves extremely sophisticated computers figuring out complicated maths problems in order to process crypto transactions.

Roughly 70% of all the world’s cryptocurrency mining takes place in China.

There are serious environmental concerns about the amount of energy required to carry out these transactions – something China is using as the framework for launching its crackdown.

Read our cryptocurrency live blog below for the very latest updates…