Cryptocurrencies tumble amid China crackdown on bitcoin miners
A small toy figurine is seen on representations of the Bitcoin virtual currency displayed in front of an image of China's flag in this illustration picture, April 9, 2019. REUTERS/Dado Ruvic/Illustration
Cryptocurrencies tumbled on Monday as China's crackdown on bitcoin mining expanded to the province of Sichuan.
Bitcoin fell to as low as $32,288 for the first time since June 8, and was last down 7.9% at around $32,781.
Smaller rival ether dropped below $2,000 for the first time since May 23, before trading 10% lower at 2019.01.
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Cryptomining is big business in China, accounting for more than half of global bitcoin production.
