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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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[–] • 2 pts

Nothing new from China's side, just a reiteration as you state (is my understanding).

BTC was already hurting from Elon's BS.

I'm sure it will rebound, but who knows how far it will drop. Doesn't seem to have any support. Dropped below 40k, ouch. Next stop 30k?