Bitcoin Crashes Down And Growth Roars Back
Bitcoin tumbled over 10% on Monday, its biggest one-day drop in over a month. The selloff was sparked by the People's Bank of China (PBOC) urging the largest banks and payment companies in China to crack down harder on cryptocurrency trading.
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China's Bitcoin Crackdown
China's central bank has called for the shutdown of a company that, "was suspected of providing software services for virtual currency transactions". The People's Bank of China also warned institutions not to provide other services related to virtual currency.
Cryptos And New "MEME" Stocks?
Recent months have been interesting, even by Wall Street standards. Back in February, this took the form of extreme speculation in heavily shorted stocks and unlimited optimism regarding the fate of many high-growth stocks.
The Land Of No Data
For years, researchers, economists, and investors relied on a broad array of Chinese economic data to gauge the health of the world’s second-largest economy.
China's Weak Economy Gets A Boost
In an unprecedented move aimed at invigorating China's weakening economy and reviving a sluggish stock market, the People's Bank of China (PBOC) has rolled out a comprehensive set of policy measures.