Bitcoin’s price collapsed after China’s Central Bank introduced a full ban on all cryptocurrency transactions in the country.
“Commercial activities related to cryptocoluts is illegal,” said NBK.
The PRC government will “decisively deal with the trade in cryptocurrencies and related financial transactions, as well as illegal actions to protect the property of people, to support economic, financial and social order,” the MarketWatch quotes the statement of the Chinese Central Bank.
The price of Bitcoin in an hour collapsed by more than $ 3 thousand (6%) after the statement of China’s People’s Bank. Against the background of the reduction in the cost of Bitcoin, altkoins fell. The price of ETHEREUM per hour decreased by 7%, the cost of Cardano and Binance Coin fell by 6%. From the hundred largest on capitalization cryptocurrency for the last hour, the Tocken cryptocurrency exchange Huobi (decrease by 15%) was cheaper (decrease by 15%).
After the statement of the NBK, quotes and some cryptocompositions decreased. For example, the Coinbase cryptobse stock price at the US premium fell by 2%, to $ 237.5. Shares of Microstrategy and Square companies in the moment declined by 1%, but later played the fall.