Bitcoin plunges to $40,000 as China widens its crypto crackdown
CNN
Bitcoin and other cryptocurrencies are plunging as anxiety spreads through the market — this time, after China took more steps to crack down on the digital coins.
The world's most heavily traded cryptocurrency plunged 10% Wednesday to trade at $40,728 per coin, according to Coindesk, a news and information website specializing in crypto assets. That's bitcoin's lowest level since February. It also represents a 36% drop since hitting a record $63,347 in April. Bitcoin was already dropping this month after Tesla (TSLA) CEO Elon Musk said he was wary of its environmental impact. But a new announcement from a trio of Chinese finance and banking watchdogs appears to have shocked cryptocurrency markets even more.
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