7/8/2021, 12:01 PM (Source: TeleTrader)
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Bitcoin falls by 6.24% to almost $32,500

The price of Bitcoin declined by 6.24% on Thursday after People's Bank of China (PBoC) Vice Governor Fan Yifei labeled cryptocurrencies "speculative tools" that endanger global financial and social stability.

Earlier, the PBoC reaffirmed that financial and payment institutions that function within its system are not permitted to provide transaction services concerning cryptocurrencies "directly on indirectly."

Bitcoin lost 6.24% at 5:48 am ET to sell for $32,598.628535. At the same time, Ethereum sank by 8.49% to trade for $2,172.90.

Baha Breaking News (BBN) / JR