Cryptocurrency
Huobi Scales Back Due to China Crackdown; Bitcoin Falls Past $32K, Ether Below $2K
Huobi Scales Back Due to China Crackdown; Bitcoin Falls Past $32K, Ether Below $2K The exchange made the move on the heels of a series of crackdown notices from Bejing in recent weeks. Reported by CoinDesk.com “Cryptocurrency exchange Huobi said it’s scaled back or suspended some of its services and products in certain countries and […]
Huobi Scales Back Due to China Crackdown; Bitcoin Falls Past $32K, Ether Below $2K
The exchange made the move on the heels of a series of crackdown notices from Bejing in recent weeks.
News of the exchange’s pullback, which includes suspending some of its futures contract trading services, leveraged investment products, exchange-traded products (ETP) as well as miner hosting services in China, appears to be one of the reasons for the latest drop in the crypto market.
The price of bitcoin (BTC, -8.58%) fell to as low as $32,727.31 before rebounding to $33,533.62, down 12.4% in the last 24 hours while ether (ETH, -10.79%) is down to $1,949.44, down 19% in the last 24 hours after having been above $4,300 a few weeks ago. Most other major cryptos are down anywhere from 15% to 30% and more.”
Read the full article at CoinDesk.com