A new round of shorting is emerging on China's bitcoin market after the central bank announced last week that the vitrual currency is not legal tender. A platform under Baidu, where users can pay to improve their network speed, has announced it will stop accepting bitcoins as a means of payment. Meanwhile, with the price of the bitcoin tumbling from more than $1000 to around $700, many trading sites seem to have shut up shop to hide from traders.
Written by Dora Men
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