Bitcoin drops 4% as China spreads crypto crackdown to Sichuan
The price of Bitcoin plunged more than 4% on Monday amid reports that the Chinese authorities widened its order to crack down on cryptocurrencies to its Sichuan province.
The order, reportedly issued on Friday, asked the state electricity companies to immediately stop supplying crypto-mining projects with electricity and demanded from the local authorities to look for additional miners.
Bitcoin tumbled 4.53% selling for $33,979 at 12:53 pm ET, while Ethereum plunged by 6.68% to go for $2,092.97 a minute later.
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