The price of bitcoin fell below $12,000 for the very first time since December 5, 2017. The most famous digital currency went down to a six-week low Tuesday, as a consequence of warnings from regulators and reports of an escalated crackdown on the cryptocurrency market in China.
Other cryptocurrencies like Ethereum and ripple were falling. Ethereum was trading at $1,051.83, down more than 20% in the last 24 hours, and ripple fell almost 27% to $1.33 a token.
The price of bitcoin fell below $12,000 for the first time since December 5. It was trading at $11,182.71 a coin at about 4:52 a.m.
On Monday, Bloomberg reported that Chinese government was planning to block domestic access to Chinese and offshore cryptocurrency platforms that allow centralized trading. Today, a Chinese central bank official reportedly said that authorities should ban the centralized trading of digital currencies, adding weight to concerns of further suppression of the country’s cryptocurrency market.Trade on BTC/USD now
NOTE: This article is not an investment advice. Any references to historical price movements or levels is informational and based on external analysis and we do not warranty that any such movements or levels are likely to reoccur in the future.
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