Chinese banks had stopped supporting cryptocurrency

China has instructed banks and payment platforms to stop supporting digital currency transactions by expanding its clampdown on cryptocurrencies.

Following that an order released to shut down Bitcoin mining operations in Sichuan province on Friday Due to that the price of Bitcoin slumped by more 10% on Monday but it labeled to stabilized in Asian trading on Tuesday.

The value of the cryptocurrency hitted a record high above $63,000 in April but it has fallen by around 50% since then.