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Here's Why It Was a Bad Day for Bitcoin and Bitcoin Stocks

Jon Quast, The Motley Fool
·4 min read
Here's Why It Was a Bad Day for Bitcoin and Bitcoin Stocks

China doesn't want its citizens mining cryptocurrencies like Bitcoin (CRYPTO: BTC) anymore, and it ramped up its crackdown efforts over the weekend. Almost every investment that is heavily connected with blockchains and cryptocurrencies also lost ground, including companies like Ebang International Holdings (NASDAQ: EBON), The9 Limited (NASDAQ: NCTY), and Future FinTech Group (NASDAQ: FTFT). The Global Times isn't a completely neutral news source, being supported by China's government.

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