{"id":137951,"date":"2022-01-21T17:48:57","date_gmt":"2022-01-21T16:48:57","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=137951"},"modified":"2022-01-21T17:48:57","modified_gmt":"2022-01-21T16:48:57","slug":"bitcoin-price-drops-below-40000-amid-russian-crypto-ban","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2022\/01\/21\/bitcoin-price-drops-below-40000-amid-russian-crypto-ban\/","title":{"rendered":"Bitcoin price drops below $40,000 amid Russian crypto ban"},"content":{"rendered":"<p>The world largest crypto by market cap, Bitcoin dropped more than 9 percent on Friday to $38,147.<\/p>\n<p class=\"p1\"><span class=\"s2\">According to data on CoinMarketCap, this is the lowest rate since August 2021.<\/span><\/p>\n<p>This development is <span class=\"s2\">coming after Russia\u2019s central bank proposed to ban all <a href=\"https:\/\/www.withinnigeria.com\/news\/2022\/01\/08\/jimoh-ibrahim-dissociates-self-from-fake-cryptocurrency-link\/\">cryptocurrency<\/a> operations in the country.<\/span><\/p>\n<p class=\"caps\">On Thursday, the government said speculative demand primarily determined cryptocurrencies\u2019 rapid growth and that they carried characteristics of a financial pyramid, warning of potential bubbles in the market.<\/p>\n<p class=\"p1\"><span class=\"s2\">Other major cryptocurrencies also tumbled, including Ethereum, which fell by 8 percent to about $2,878.<\/span><\/p>\n<p class=\"p1\"><span class=\"s2\">The drop wiped off about $140 billion from the cryptocurrency\u2019s combined market capitalisation, according to figures from CoinMarketCap.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The world largest crypto by market cap, Bitcoin dropped more than 9 percent on Friday to $38,147. According to data on CoinMarketCap, this is the lowest rate since August 2021. This development is coming after Russia\u2019s central bank proposed to ban all cryptocurrency operations in the country. On Thursday, the government said speculative demand primarily [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":35484,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[16587],"tags":[728,28168,10546,28167],"class_list":["post-137951","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-bitcoin","tag-coinmarketcap","tag-ethereum","tag-russian-crypto-ban"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Bitcoin price drops below $40,000 amid Russian crypto ban<\/title>\n<meta name=\"description\" content=\"The world largest crypto by market cap, Bitcoin dropped more than 9 percent on Friday to $38,147.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2022\/01\/21\/bitcoin-price-drops-below-40000-amid-russian-crypto-ban\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin price drops below $40,000 amid Russian crypto ban\" \/>\n<meta property=\"og:description\" content=\"The world largest crypto by market cap, Bitcoin dropped more than 9 percent on Friday to $38,147. According to data on CoinMarketCap, this is the lowest\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.withinnigeria.com\/news\/2022\/01\/21\/bitcoin-price-drops-below-40000-amid-russian-crypto-ban\/\" \/>\n<meta property=\"og:site_name\" content=\"NEWS PICKS \u2014 WITHIN NIGERIA\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/facebook.com\/withinnigeria\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/SodiqAdewaleChocomilo?mibextid=ZbWKwL\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-21T16:48:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.withinnigeria.com\/news\/wp-content\/uploads\/sites\/5\/2021\/05\/adewale_chocomilo\/2021\/05\/19\/Bitcoin-1-770x433-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"770\" \/>\n\t<meta property=\"og:image:height\" content=\"431\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Sodiq Lawal 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