According to Bomcobit, yesterday’s decline in the cryptocurrency market did not cause most analysts any questions, Monday became a “black day” for all financial and commodity markets. The main reason for the asset sales was the OPEC agreement, which provides for a sharp recovery in oil production, the cost of which fell by 7%.
A number of Bomcobit analysts point to another reason that directly affects the cryptocurrency market, these are China’s accusations of a hacker attack on Microsoft by a whole coalition of countries.
The United States, the EU and the United Kingdom, joined by NATO partners, directly accused the MGB of China of hacking Microsoft Exchange servers and creating shell programs in their structure. They opened the way for hackers to access the data of government agencies and private companies, cryptocurrency exchanges and operators of “hot wallets”.
The goal of the MGB of China was not only espionage, but also inflicting maximum damage to the national economies of countries, by the hands of third-party hackers. The G7, NATO and a number of G20 countries are planning a joint response to China’s actions that can return the world to the situation of 2018.
This period was the largest exchange of sanctions between the United States and China, which led to a fall in the stock and cryptocurrency markets. Bitcoin lost 80% of its value, altcoins depreciated even more, some of them overcame the consequences only in 2021, according to the crypto exchange Bomcobit.