China's renewed crypto crackdown wipes nearly $300 billion off the market as bitcoin slides

was down around 6.6% at $32,735.71 at around 10:47 p.m. ET, coming off its 24-hour low of $31,179.05, according to CoinDesk data.

Over the past few days, China has stepped up its efforts to rein in the country's cryptocurrency industry.On Friday, authorities in China's Sichuan province, ordered cryptocurrency miners to shut down their operations, according to multiple mediaMany bitcoin mines in the southwestern Chinese province were closed as of Sunday, according to state-backed tabloid the Global Times.

This is one thing that I support of China a crackdown on thugs…..

Remember these posts in a months time when you wish you bought the fud

In my opinion, NOW would be a great time to buy Hut 8 stock. They just had a 1/3rd of their mining competition removed... if its anything like my home rig, my win rate doubled, for the same amount of energy.

This is great, though. No more FUD out of China. EVER AGAIN!

Not only Bitcoin, If China increase product price, we will see a super inflation in US immediately.

I love it. Get china out. I also love the general negative sentiment right now from people who don't understand the technology. It allows me to buy more a little cheaper. Bitcoin is literally where it was 6 months ago.

thebearablebull China is not relevant to the USA 🇺🇸 and global crypto market. Enough of the manipulation on crypto off crypto and then they will be back on again. Deliberately making Large amounts of wealth while the USA 🇺🇸 continues to support Chinese backed bitcoin and Ethereum? USA 🇺🇸 XRP

huge threat to china and worlds centralized economies. They are being fcks wads.

We're WATCHING HOW Wallstreet manipulating Bitcoin price ... to buy it cheap !!! Watch business crypto FoxBusiness cz_binance FastMoney YahooFinance CNNBusiness APompliano Novogratz TimDraper PeterSchiff MarketWatch elonmusk

If China isn't getting enough bad press already now they'll have the crypto trolls after them as well 😂😂😂

thebearablebull Time to buy Vechain. VET

KA BOOM.

Don’t care what China does.

because China started their state own crypto currency and it doesn't want competition. The cryptocurrency control wars are about to begin.

LoL how about the west boycott their state owned cryptocurrency.

Its good ,so we will not hear for the 1000 time ,china bann crypto

Well that’s it then. China said crypto no more so that must mean that’s the end of bitcoin 😂

Bitcoin photo looks like the $ and the real money , be aware it is a false money and sooner or later the cryptocurrency will be classified as falsified money, period.

😂 at CNBC clowns!

$KISHU To the moon!

I warned them.

It seems Cryptocurrency / Bitcoin is the biggest scam of humanity

Of course China is cracking down. Why on earth would they allow any decentralized technology?

Annual renewal?

same recycle 2018. nothing new repaet n repeat but btc is still there haha.

Crypto currency is an imaginary money scam. There is no basis in the value. It's just let's make imaginary money with no gold backing. Everyone that loses their shirt 100% deserves it.

Another nice try . Keep up the FUD! Plenty of diamond hands to buy the dip. Saylor is not our only Bitcoin Jesus.

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