Bitcoin hits 2018 Low, China Cracks Down on Crypto
Chinese regulators are targeting online platforms and apps devoted to trading cryptocurrencies, prompting a price drop. Home to the globe’s biggest Bitcoin miners, China’s recent regulation clampdowns have troubled many in the Bitcoin market. Authorities are closing down alternative venues to centralized market exchanges, which China banned last year. As the price bounces back slightly, Chinese officials are looking to stop miners soon, potentially driving them overseas.
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