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Bitcoin is tanking following a reiteration from China's central bank that financial institutions cannot provide cryptocurrency services.

In a statement published online, the People's Bank of China warned against institutions and businesses from engaging in any form of virtual currency transactions.

Bitcoin is tanking following a reiteration from China's central bank that financial institutions cannot provide cryptocurrency services. In a statement published online, the People's Bank of China warned against institutions and businesses from engaging in any form of virtual currency transactions.

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[–] • 1 pt

People can't get out fast enough, so much hurt is on the way. Looks like Musk was the smart one when he sold some. Probably sold more than he is telling us. But I have to say, it doesn't feel like this is the end of BC yet, so this could be a great buying opportunity. Same for other cryptos that are down right now.

[–] • 0 pt

Can you explain this to me. If they investigated in bitcoin and made tons of money why wouldn't they sell high and make the money? Can't it be sold?

[–] • 0 pt

sure you can sell, if your brokers website hasn't crashed. with everyone trying to preserve profits and trying to sell, many will be out of luck. Look how fast it crashed.

[–] • 0 pt

Thanks.