Bitcoin tumbles below $40,000 and other coins slide after China signals a
crypto crackdown, wiping $280 billion off the market
https://markets.businessinsider.com/currencies/news/bitcoin-price-cryptocurrencies-china-crypto-crackdown-price-outlook-2021-5-1030445035?nr_email_referer=1&utm_source=sailthru&utm_medium=email&utm_content=opening_bell&utm_campaign=post%20blast%20moneygame:%2010%20things%20you%20need%20to%20know%20before%20the%20opening%20bell&utm_term=10%20things%20before%20the%20opening%20bell%20-%20engaged%2c%20active%2c%20passive%2c%20disengaged
- Bitcoin and other major digital assets sank on Wednesdayafter China warned investors against cryptocurrencies.
- Virtual currencies can't be used to conduct business as they don't have real value, China's central bank said.
- A price drop below $30,000 for bitcoin wouldn't be surprising, a senior market analyst said.