Crypto markets were rocked on Friday as it emerged that China was implementing a full ban on cryptoasset trading inside the country. Despite it having announced the ban previously, markets reacted badly with big falls in BTC and other altcoins.
BTC entered last week on a downward trend and had already hit a low of $40,500 by Wednesday morning, but it was recovering steadily until the news from China knocked it down more than 8% on Friday. The price then stabilised before a jump on Sunday and returned to over £44,100 this morning.
ETH likewise hit a weekly low on Wednesday, touching £2,700 before a climb back up to over $3,100. Following its own fall of over 9% on Friday, ETH then stabilised along with BTC over the weekend and was trading again at over $3,100 this morning after strong gains on Sunday.
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