Bitcoin drops below $4000 amidst grim news from China

The value of Bitcoin was decreasing since the last Saturday. However, after China’s central bank and financial regulator, the People’s Bank of China (PBoC), claimed that initial coin offerings are no longer legal (the first rumors on this measure appeared at the end of August), the drop accelerated and on Tuesday, 5 September 2017, the most popular and expensive cryptocurrency has decreased below $4000.

Bitcoin was traded for $3900 at 04:15 UTC on Bitfinex, one of the biggest digital currency exchanges.

The Chinese OKCoin with its investors shocked by the PBoC decision has even less optimistic sentiment – Bitcoin dropped there even to $3800.

The European and American exchange participants seem to be more confident – Bitcoin’s minimum on Bitstamp was $4001, on Gemini – $4012, on Kraken – $4140; GDAX – $4234. Bittrex traders, however, shared the Asian pessimism and Bitcoin was traded there for $3898.

At the press time, Coinmarketcap shows that the average weighted exchange rate is $4213.76.