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+ - Chinese Ban Causes Bitcoin Value to Crash 50%->

Submitted by Anonymous Coward
An anonymous reader writes "China's ban on its financial institutions handling bitcoin causes world's largest exchange to cease trading, halving the value of the currency from $1,000 to less than $500 in a matter of days.

The country's central bank took a hard line on bitcoin in early December when it banned financial institutions from handling the decentralised crypto-currency, and as a result BTC China, the world's largest bitcoin exchange, has stopped accepting deposits from its users."

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Chinese Ban Causes Bitcoin Value to Crash 50%

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Of course you can't flap your arms and fly to the moon. After a while you'd run out of air to push against.