Site icon WNews

Bitcoin falls further as China cracks down on crypto currencies

SharecloseShare pageCopy linkAbout sharingimage copyrightNurPhoto

The price of Bitcoin has fallen below $34,000 (£24,030) for the first time in three months, after China imposed fresh curbs on crypto-currencies.

Beijing on Tuesday banned financial institutions and payment companies from providing services related to cryptocurrency transactions.

ADVERTISEMENT

It also warned investors against speculative crypto trading.

It follows falls in Bitcoin of over 10% last week after carmaker Tesla said it would no longer accept the currency.

On Monday the crypto-currency was down 22%, a fall of about $6,000 in the last 24 hours.

Meanwhile, other digital coins such as Ethereum and Dogecoin lost as much as 25% and

ADVERTISEMENT

Donation

Help Support the Work of WNews

This story is from The BBC News. To read the full story, please go to https://www.bbc.co.uk/news/business-57169726.

This post was originally published on this site

Exit mobile version