Bitcoin crashed by as much as 30pc today after China banned financial services firms from providing cryptocurrency services, dragging down other major cryptocurrencies at the same time.
The latest drop left Bitcoin approaching $30,000, a level not seen since January, and well below its April high of $65,000. The downturn quickly infected other cryptocurrencies, with Ethereum sinking by over 36pc and Dogecoin tumbling an even greater 41.5pc.
Losses for the entire cryptocurrency sector are now approaching $1trillion.
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