Why Bitcoin price drops $200

Bitcoin price drops $200 after new ruling from Chinese regulators

• Bitcoin's price fell after China announced a ban on initial coin offerings (ICOs) from $4,584 to around $4,350 per bitcoin.
• This move to be shortlived, according to experts.
• The move by China is not the first time the country's regulators have attempted to crack down on cryptocurrency.
• The price of bitcoin fell sharply after Chinese regulators announced a ban on organizations from raising funds using initial coin offerings (ICOs).
   

ICOs allow start-ups to raise investment by selling new cryptocurrencies, which are similar to bitcoin, in return for cash. However, the People's Bank of China says this practice, which has become popular around the world as well as in China, constitutes illegal fundraising.

Source:  https://markethive.com/david-ogden/blog/bitcoin-price-drops-200-after-new-ruling-from-chinese-regulators

*********************************************
join markethive here:  http://markethive.com/magistral

*********************************************