China does it again

Not long ago Bitcoin was trying to make some progress as the lead cryptocurrency lifted back above 41k. The price had recovered to around 41,780 and seemed like it had potential to make a fresh high on the day above the existing one in place at 42,269. Well, that prospect was just quashed by comments from the Chinese premier, Liu who said that the authorities there are to crackdown on Bitcoin mining and its trading activities. That news sent the lead cryptocurrency tumbling again. It fell back to as low as 37,688 a few moments ago and may not be done with yet in terms of further downside. The news comes as the whole crypto market holds its breath coming into weekend trading. As noted here earlier it was going to be a nervous weekend for all coins anyway and this news has merely exasperated that issue.  Bitcoin is currently trading with rapid price action as one might expect. It is just now at 37,950