Cryptocurrencies Tumble amid China Crackdown on BTC Miners


Cryptocurrencies tumbled on Monday as Chinas crackdown on bitcoin mining expanded to the province of Sichuan.

Bitcoin fell to as low as 32,288 for the first time since June 8, and was last down 7.9 at around 32,781.

Smaller rival ether dropped below 2,000 for the first time since May 23, before trading 10 lower at 2019.01.

Cryptomining is big business in China, accounting for more than half of global bitcoin production.

Reporting by Kevin Buckland; Editing by Toby Chopra

Source Reuters


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