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Bitcoin sinking on concerns over Chinese cryptocurrency crackdown

September 24th, 2017
Categories: News

Link: https://www.rt.com/business/404184-bitcoin-price-slide-china/

Bitcoin plunged over five percent on Friday under pressure of a nationwide Chinese ban on local bitcoin exchanges and trading platforms. The world's most popular cryptocurrency traded at $3,686 on Friday, down more than 25 percent from its record high of $5,000 earlier this month. However, the current price is still higher than after the first sell-off wave, when the value of the cryptocurrency dropped nearly $1,000, to below $3,000. Bitcoin is still up more than 400 percent this year. Bitcoin rival ethereum sank over seven percent to $263.

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