Bitcoin Drops Below $7,000 as China Euphoria Fades

When Chinese leader Xi Jinping touted blockchain technology in October, the price of bitcoin surged, searches for “blockchain” on one of China’s biggest search engines soared and shares of related companies jumped.

A month later, the euphoria is over.

Bitcoin slumped below $7,000 over the weekend, dropping to a six-month low as China reaffirmed…

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