China’s Central Bank is Behind Bitcoin’s Falling Price

By Timothy Sohn Jan 9, 2017 6:30 PM EDT

(Quartz) – A recent bull run for bitcoin has turned dramatically, with the price of the digital currency registering double-digit percentage drops on several days already in 2017. The comedown traces back to a recent comments from the People’s Bank of China, which met with representatives of major bitcoin exchanges in China prior to issuing a pair of notices.

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