https://www.cnbc.com/2017/09/08/bitcoins-price-tanks-after-report-china-plans-further-crackdown.html

The price of bitcoin fell sharply after a report China's regulators are planning a further crackdown on the digital currency.Local outlet Caixin is reporting the Asian country is planning to shut down local bitcoin exchanges, according to a Google translation.

Bitcoin's price fell 7 percent Friday after the news, according to Coindesk market data.On Monday, Chinese regulators announced a ban on organizations from raising funds using initial coin offerings (ICOs), which sparked a $200 decline in the price of bitcoin.