Bitcoin Drops 10% After China Moves Forward With Crypto Crackdown

China’s crackdown on cryptocurrency escalated to a whole new level.

The news came yesterday that The People’s Bank of China had urged major banks and Alipay to crackdown on crypto trading. Six major banks, including The Agricultural Bank of China and China Construction Bank, and Alipay issued a statement prohibiting the use of the company’s services to conduct bitcoin and other virtual currency transactions and stated that it will not conduct or participate in any cryptocurrency-related business activities.

Hit by the news, Bitcoin fell as low as $31,169 on the Bexplus exchange. Other cryptocurrencies suffered severe losses too, with Ethereum dropping to $1,859.

Bexplus offers bitcoin price predictions for 2025, and XRP price predictions to help users keep up-to-date with the cryptocurrency industry.

Starting out

Sign Up

Bexplus requires no KYC, so you only need to open an account with an email address, which takes just one minute. Once your registration is complete, a trading account and a demo account with 10 BTC will be automatically created.

Practice Your Skills: A Demo Account

Successful traders are those who learn to analyze the market and can always think clearly. The best way to improve your skills and mindset is by practicing with the free demo account.

Every user is given 10 BTC at the beginning, and these are replenishable, so you can try out different strategies as much as you like.

Make a Deposit And Claim Bonuses

No deposit fees are charged. You can start depositing as little as 0.001 BTC. Bexplus supports Bitcoin, ETH, etc, as well as USD, EUR, AUD ,GBP and more than 50 currencies.

To help traders earn more, Bexplus offers a 100% deposit bonus to every trader. Deposit 1 BTC and you will get 2 BTC, with up to 10 BTC available for each deposit. The bonus is not withdrawable but can be used as margin.

Earn Passively With Bexplus

When you are not trading, you can transfer your BTC to the interest-bearing wallet and enjoy up to 21% annualized interest.

Sign up to get a 100% bonus and use a demo account to test your strategy.

Featured image via Pixabay.

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