Bitcoin tumbles to $30,000 after China warning, Musk remarks ...Qatar

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Bitcoin tumbles to $30,000 after China warning, Musk remarks
Bitcoin plunged by 30 percent on Wednesday after China signalled a new crackdown on the cryptocurrency and Tesla head Elon Musk sent mixed signals about his car company's use of the unit. The virtual currency fell to almost $30,000 -- less than half the record value it reached last month -- before climbing back over $33,000. It was still above its level at the start of the year. Trading in cryptocurrencies has been banned in China since 2019 to prevent money laundering, as leaders try to stop people from shifting cash overseas. The country had been home to around 90 percent of the global trade in the sector. On Wednesday, authorities said cryptocurrencies would not be allowed in trans

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