Early selling pushed bitcoin down nearly 5% to a low of $752.46 per coin. The cryptocurrency has recovered a portion of its losses and is lower by more than 2% at $772 per coin as of 7:48 a.m. ET. Thursday's weakness has the cryptocurrency trading at its lowest level in about a month.
Bitcoin has had a wild start to 2017. It rallied more than 20% in the first four trading days of 2017, putting in a high of $1161.88 per coin amid massive interest from China. However, speculation began to mount last Friday that China was going to crackdown on the cryptocurrency after the $4 to exercise caution when investing in virtual currencies. Then on Wednesday
Then on Wednesday, China announced it had begun $4 in Beijing and Shanghai on suspicion of market manipulation, money laundering, unauthorized financing, and other issues. Selling in response to that announcement pushed bitcoin down more than 13%.
Investing.com