Bitcoin continued its descent on Monday, dropping 7% to a price of $32,801 in the early morning hours. This is the first time the world’s largest cryptocurrency fell below $33,000 since June 8.
“Bitcoin sank Monday on reports that China has intensified its crackdown on cryptocurrency mining,” reported CNBC. “ It was last trading at $33,243 as of 5:50 a.m. ET. Smaller rivals like ether and XRP also tumbled, down 8% and 7% respectively.”
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