Bitcoin tumbles as China escalates crypto mining crackdown

The price of bitcoin tumbled Monday on fresh reports that China has expanded its crackdown on the mining of cryptocurrencies.

Bitcoin traded as much as 9 percent lower Monday morning before recovering slightly. It was last seen trading at about $32,300 per coin as of 7 a.m. ET, according to Coinbase data. It’s down over 17 percent from a week ago. Other cryptos, including ether, cardano, XRP and dogecoin, were all also trading lower Monday.