Bitcoin plunges with a Chinese crackdown on the use of digital currencies.

Bitcoin plunges with a Chinese crackdown on the use of digital currencies.
The price of Bitcoin has fallen below $34,000 (£24,030) for the first time in three months, other digital coins such as Ethereum and Dogecoin lost as much as 25% and 29% respectively. Neil Wilson of Markets.com said: "China has for some time been putting pressure on the crypto space, but this marks an intensification - other countries might follow now as central banks make strides towards their own digital currencies.
"Until now western regulators have been pretty relaxed about Bitcoin, but this might change soon."
China has banned financial institutions and payment companies from providing services related to cryptocurrency transactions, and warned investors against speculative crypto trading. However it has not barred individuals from holding cryptocurrencies.
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