Bitcoin's sell-off still isn't over

Digital currency Bitcoin continues to fall against the dollar on Friday, following a 16% collapse in its value on Thursday.

Bitcoin began sliding on Thursday after Chinese media reported that the country's regulators were moving closer to shutting down exchanges. Business Insider first reported that China was looking at a crackdown on all cryptocurrencies after the People's Bank of China banned "initial coin offerings" at the start of the month.

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