5/19, 6:50 AM (Source: TeleTrader)
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Bitcoin slides under $40,000 after China's ban

The price of Bitcoin continued on a downward trend, dropping below the $40,000-treshold after Beijing made a move against banks offering cryptocurrency services.

The world's most famous digital currency dropped to a three-month low after the Chinese authorities announced that financial institutions would be banned from engaging in crypto trading in the country.

Bitcoin sank by 7.83% going for 39,513.281 against the dollar at 00:39 am ET.

Breaking the News / NL