The collapse of bitcoin was fast and dramatic on Wednesday.
The dollar price fell by 30.8% at one point, before the world’s leading cryptocurrency recovered to end the day down just 11%.
But by then other cryptos had been caught up in the carnage, which came after financial bodies in China reinforced the ban on banks and payments companies offering crypto services to their customers and the country’s central bank insisted that they cannot be used for payments.
Ethereum also fell by 26.3%
Thanks for your interest in Euromoney!
To unlock this article:
