Beware: Crypto heads back into the red

Major crypto currencies have headed back into the red after making gains

It comes as analysts warn bitcoin and ethereum prices are in danger.

There are reports former minders in China have been dumping graphic processing unites – or GPUs – which is responsible for how a computer renders graphics.

Because of that, Bitcoin dropped by 0.4% after rising nearly 3% the previous day.

Bitcoin has struggled to break above $36,000 in the last few days.

Bitcoin continues to rebound from its lows for the year, and investors are now trying to understand why

Bitcoin had a solid start to the year, rallying to an all-time high of almost $65,000 ahead of crypto exchange Coinbase’s blockbuster debut and as institutional investors appeared to be warming to it.

But the world’s biggest digital coin has been on a roller-coaster ride since, almost halving in value amid a slew of negative news.

Thanks, Elon

The slide began when Elon Musk first raised concerns over the crypto’s environmental impact. Suddenly, the world looked towards other cryptos for hope.

In China, authorities have been clamping down on bitcoin mining, the power-intensive process for validating transactions and generating new bitcoins.

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