Bitcoin faces biggest one-day slump since last year as China announces curbs

china bitcoin slump sharply hit
Middle East
  • Date: 19-May-2021
  • Source: The Economist
  • Sector: Economy
  • Country: Middle East
  • Who else needs to know?

Bitcoin faces biggest one-day slump since last year as China announces curbs

Bitcoin's price has fallen sharply after China announced curbs on cryptocurrency transactions.

The cryptocurrency dropped by more than 20% to extend a sharp downturn over the past month.

It dipped below $40,000 and hit its lowest level for more than three months on Wednesday afternoon, briefly even falling further to around $30,000.

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