China is freaking out bitcoin traders
From money.cnn.com
China has put an end to bitcoin's euphoric start to the year. The digital currency soared to its highest level in more than three years last week, topping $1,100 and nearing an all-time record. But since then, its price has plunged more than 30% to around $760 after Chinese authorities stepped up scrutiny of bitcoin exchanges in the country, where the vast majority of bitcoin trading takes place. "When China sneezes, bitcoin catches a cold," said Charles Hayter, CEO of digital currency comparison website CryptoCompare. The latest drop was set off by news of spot checks from Chinese regulators on local bitcoin ...
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