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Bitcoin, cryptocurrencies plunge after China issues restrictions Bitcoin, cryptocurrencies plunge after China issues restrictions May 19, 2021 The price of Bitcoin plummeted further on Wednesday after China banned banks and payment firms from providing services related to cryptocurrency transactions. Beijing made trading in cryptocurrency illegal in 2019 amid fear about money laundering, but people were still able to make transactions online. At one point after the announcement, the price of the world’s most valuable cryptocurrency fell from $45,600 to $38,570, its lowest since early February, and well off the record high of $64,870 seen last month. Despite a strong rally...
