News Snapshot:
China has not warmed up to cryptocurrencies Mouthpiece of Communist Party of China has opined that Bitcoin may be heading straight back to zero reports . Since the largest cryptocurrency has no intrinsic value, it will become virtually worthless if investors lose confidence, the newspaper says. The largest cryptocurrency is currently trading above the $20,000 level after collapsing to as low as $17,600 over the weekend. The mouthpiece of the Chinese government states that the cryptocurrency market is'full of manipulation.' The article, which reflects the CCP's official position on cryptocurrencies, signals that the Chinese government is nowhere close to warming...