27 Mar '14, 3pm

Bitcoin Is Getting Destroyed On Rumors That China Is Banning It

Bitcoin Is Getting Destroyed On Rumors That China Is Banning It

Bitcoin was down nearly 12% on rumors China has banned Bitcoin, CoinDesk's Jon Southurst reports . This follows an erroneous report that that had occurred last week . But this time the reporter writing up the news is sticking by his story, Southurst says, although the PBOC has not released any information: News that the Chinese government would penalize any bank transacting with bitcoin exchanges after 15th April started to break around mid-morning China time on Thursday 27th March. This time, it was reported as fact by a number of news services . Here's the price action: CoinDesk SEE ALSO: BITCOIN TAX EXPERT: IRS Ruling Creates 'Quite A Burden' For Digital Currency's Users

Full article: http://www.businessinsider.com/bitcoin-crash-2014-3

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