Bitcoin slumps below $7,000 mark for first time in 6 months
Bitcoin fell below the $7,000 mark on Sunday for the first time since May.
The price of bitcoin
was last around $6,850, according to Coindesk, after slumping about 24% over the past month. In June, the leading cryprocurrency topped $9,000 for the first time in more than a year, eventually topping out above $13,000.
The recent tumble is being attributed to China’s recent announcement that it will crack down on crypto trading. A statement by the People’s Bank of China on Friday warned it was increasing “supervision and control to combat virtual currency transactions.”