The Price of Bitcoin Fell by more than $3 Thousand in an Hour
According to the regulator, all transactions using bitcoin and other digital assets, including stablecoins, are classified as illegal financial activity. The services provided by cryptocurrency exchanges to residents of China were also outlawed.
Against the background of the decline in the cost of bitcoin, altcoins also fell in price. The price of Ethereum fell by 7% in an hour, the cost of Cardano and Binance Coin fell by 6%. Of the hundred largest cryptocurrencies by capitalization, the Huobi cryptocurrency exchange token has fallen in price the most over the past hour (a decrease of 15%).