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Title : Crypto Markets Crash In Overnight Trading
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Crypto Markets Crash In Overnight Trading

Bitcoin has plunged below $40,000 for the first time in more than three months after China declared a crackdown on transactions in cryptocurrency  

Daily Mail: The Crypto crash: Bitcoin plunges 28%, Ethereum 38% and Dogecoin 47% after China cracked down on payments and Elon Musk said Tesla would not accept Bitcoin 

* China announced Bitcoin will not be allowed in transactions due to fluctuations 

* Financial institutions also warned investors against trading in cryptocurrency 

* Elon Musk announced last week Tesla would not accept bitcoin as payment 

* He spoke out amid environmental concerns involved in mining the currency 

Bitcoin has plunged below the $40,000 mark for the first time in more than three months after China banned financial and payment institutions from providing cryptocurrency services. 

The cryptocurrency tumbled more than 50 percent from a record high of $64,895 hit on April 14, and erased all of its gains since February 8, when Tesla announced it had acquired a stake costing $1.5 billion. 

Tesla boss Elon Musk indicated that Tesla would not sell any of its Bitcoin holdings despite the market turbulence, tweeting on Wednesday morning: 'Tesla has [diamond hands]'.  

Read more ....  

Update #1: Bitcoin’s plunge intensifies, tanks 30% to $30,000 in single day amid broad cryptocurrency sell-off (CNBC)  

Update #2: Cryptocurrency exchanges report blackouts as bitcoin prices lead the digital currency free fall (Kitco)  

WNU Editor: You know it is bad when Coinbase, one of the world's largest crypto traders, crashed this morning .... Coinbase was down for over an hour amid massive cryptocurrency plunge (The Verge). 

Another crypto-trader that I am familiar is Newton, and they have suspended e-transfer deposits because their provider that handles these transactions has suspended operations. 

Yup. This is what I call a crash.

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