BlockMedia – Bitcoin drop 20% from 5000 high.

The Labor long weekend is not so relaxing for anyone doing business in cryptocurrencies. The graph below will show their respective loses.

This is due to the announcement of China’s Banks to ban digital token, specifically ICO’s (Initial Coin Offering) based in China.  And SEC already sending letters to ICO’s company who is based in the USA.

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Maybe this is just another obstacle to overcome as the cryptocurrency continue to grow. What do you think?

Last July 24, the Bitcoin value is $2777.26 still a huge gain despite of losing 7.33% for the last seven days of trading.