Bitcoin prices took a tumble after the rumored China ban was made semi-official. This had a large knock-on effect on Ether and Dash too, which are down in USD terms (although flat vs BTC). Due to the large affect this news is having on the crypto market, we’ll cover BTC instead of Dash in this article. Bitcoin Tumbles on China Exchange Ban

Bitcoin prices dropped sharply during the past few days as the rumored china exchange ban is slowly being rolled out. First Bitkan, a popular Chinese OTC trading platform, announced that they will shut down. Then BTC China, one of the biggest three Chinese exchanges followed suit. And finally today OKEX, a futures platform run by OKCoin, announced that their new futures will be based on a 100% USD price index, instead of the previous 50/50 CNY/USD mix. A smaller trading platform VIABTC announced that they will close their doors as well. Read more: