Bitcoin price crashes below $3,900 amid China cryptocurrency exchange crackdown

The digital currency fell below $3,900 on Wednesday, before narrowing losses to sit around $3,917.

Bitcoin's price has lost around $1,000 since the start of September when the price came within touching distance of $5,000.

It comes amid speculation the Chinese government is launching a crackdown on exchanges.

Beijing has already decided to ban initial coin offerings, which are used to raise funds with new digital tokens.

The two moves mark a clampdown on...
source: Express