Bitcoin, Ethereum, Dogecoin and other cryptocurrencies crash after China crackdown 

Bitcoin, Ethereum and Dogecoin crashed on Wednesday after China’s decision to ban banned financial and payment institutions from providing cryptocurrency services.

Bitcoin, Ethereum and Dogecoin crashed on Wednesday after China’s decision to ban banned financial and payment institutions from providing cryptocurrency services. Both Bitcoin and Ethereum witnessed their largest one-day drop since March last year on Wednesday. Other cryptocurrencies also bled on a tough day for investors. Overall, the crypto market lost close to $1 trillion in less than 24 hours before recovering late night. Bitcoin dropped to $30,066, the lowest since late January. It was down at $39,708 (at the time of writing). The most popular cryptocurrency posted its largest one-day loss since March 2020. It has been on a downward trajectory for the last week following Tesla’s announcement to not accept Bitcoin as payment method. Ethereum fell to as low as $1,850, its weakest level since late January as well.