After a sharp drop in all cryptocurrencies following new restrictions from the Chinese government, the crypto market is catching its breath. Indeed, around mid-May, the Chinese government announced that it was banning financial institutions and financial services companies (especially payment) from providing cryptocurrency-related services. After this announcement, the value of the majority of cryptos fell sharply over three weeks.
However, since June 8 we have seen a resumption of an increase in the prices of digital currencies. But for now, this recovery is not enough to cover the heavy losses recorded last month. Indeed, the Trackinsight Cryptocurrency Theme which brings together 21 ETFs reproducing the performances of one or a basket of several cryptocurrencies, has recorded a loss of -21.9% over the last three months.
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