Bitcoin price: BTC plummets as India banks close down trade | City …

Banks opposite India are enormous down on bitcoin trade, months after Finance Minster Arun Jaitley publicly denounced the digital currency.

Bitcoin non-stop on the markets at $12,899.20 (£9,307.16) before plunging by $1,000 (£721.53) just before 8am GMT.

The token bounced back rather at 2.05pm GMT, exchanging hands at $12,199.50 (£8,802.31) – down 4.11 percent on the past 24 hours.

Bitcoin exchanges in India are now underneath fire, with the State Bank of India (SB), Axis Bank, HDFC Bank, ICICI Bank and Yes Bank reportedly shutting or tying activity on accounts tied to bitcoin trade.

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