Bitcoin extended its recent tumble from record peaks after one of China’s biggest bitcoin exchanges announced plans to halt trading at the end of the month.
The cryptocurrency tumbled as much as 11.3 per cent to $3,426.92, according to Reuters data. It has fallen now for seven days in a row in its longest losing streak in a year.
Thursday’s fall came after BTCChina abruptly said it would “immediately stop accepting new account registration[s]” and then halt all trading on September 30. On its website, the exchange quoted bitcoin as down almost 20 per cent against the yuan.
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