The price of a single Bitcoin has lost about 60% its highest value, which was reached in December 2017, as global efforts to regulate or ban the digital currency weighed down on it. Bitcoin fell sharply to break below the $6,000 mark for a brief moment on Tuesday, before cutting some of its losses.
News emerged on Monday that authorities in China will widen their crackdown on cryptocurrency trading by restricting access to websites that offer trading services. Chinese regulators already have a ban in place on domestic cryptocurrency exchanges since last year. However, the new decision extends the ban to include foreign and overseas exchanges and trading platforms that facilitate trading.
Authorities will make use of the Great Firewall of China, which allows the Chinese government to have