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Bitcoin and Ethereum plunge on Chinese crackdown [Updated]

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#1 TheSentinel


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Posted 15 September 2017 - 07:09 PM

Bitcoin and Ethereum plunge on Chinese crackdown [Updated]
Bitcoin has lost 25 percent of its value since September 1.

Timothy B. Lee - Sep 15, 2017 4:01 pm UTC

Update: Since this article was originally published on Thursday morning, Bitcoin has risen by about 20 percent to $3,700. It's still down 25 percent from its September 1 high. The original article follows.
The last year has seen an astonishing boom in the two most popular cryptocurrencies: bitcoin and ether—the latter being the currency of the Ethereum network. The price of bitcoins soared from around $1,000 at the start of the year to nearly $5,000 on September 1. Ether rose from $8 to almost $400 over the same period.