Bitcoin price falls on china crypto warning

bitcoin price falls on china crypto warning

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CRYPTO Alert: INSANE Bitcoin Behavior! (This Has Never Happened!)
Bitcoin has added 36% to its value since the Chinese government warned citizens that the cryptocurrency was �heading to zero� last year. China's central bank said all cryptocurrency-related transactions are illegal, reinforcing the country's tough stance against digital rivals. The price of Bitcoin fell below $ for the first time in three months after China imposed fresh curbs.
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Chinese Vice Premier Liu He and the State Council said tighter crypto regulation is needed to protect the financial system. Back in May, they had banned financial institutions and payment services from providing cryptocurrency services to consumers. As such, markets have been expecting a strong monetary or fiscal response from Beijing. The country was also a hub for crypto-mining, thanks to a host of mining-friendly policies and subsidies. Bullish group is majority owned by Block.