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Bitcoin Plummets Below $3,000 on Rising China Worries

Bitcoin dropped below $3,000 on Friday as the cryptocurrency extended a brutal eight-day sell-off that has reduced its value against the dollar by a third. Financial Times reports: The currency traded as low as $2,972, marking a 36 per cent fall from bitcoin’s close on September 7, and a collapse of 40 per cent from the highs struck earlier this month. The latest bout of selling came after BTCChina, one of the country’s biggest bitcoin exchanges, said it would halt trading at the end of the month. Focus has now shifted to the communist country’s other two big exchanges: OKCoin and Huobi. Alternative source.

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