China says cryptocurrency “is not a real currency” and Bitcoin falls at least 3 months

China says cryptocurrency “is not a real currency” and bitcoin falls at least 3 months

Bitcoin remains at a minimum of three months after a rocky 24-hour period, which has so far erased more than 15% of its value and taken away many other cryptocurrencies. While volatility is a trademark of cryptocurrencies today, this sudden drop is related to recent statements by China’s major banking and financial institutions about whether Bitcoin is a good investment.

Spoiler: China thinks not.

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