Published on September 15th, 2017 | by bitcoin0
Chinese Exchanges Closing Hits Bitcoin Hard
Bitcoin prices plunged about 13 percent Thursday after one of the biggest exchanges in China said it will shut down its operation.
The cryptocurrency traded at $3,385.15 at 4:17 p.m. in New York, far below an all-time high of $5,013.91 set earlier this month.
The Bitcoin Investment Trust (GBTC) also fell sharply, trading 8.9 percent lower.
BTC China said in a tweet Thursday that it will close down its operations by Sept. 30 as Chinese authorities crack down on cryptocurrencies.
TWEET: 1/ After carefully considering the announcement published by Chinese regulators on 09/04, BTCChina Exchange will stop all trading on 09/30.