Bitcoin Markets Slump 20 Percent Monday

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Monday certainly was not considered a good day in the bitcoin markets. Following some rumors that China was imposing a ban on financial institutions working with bitcoin exchanges, the price took a significant fall.

As of this writing, the price per bitcoin is $653 USD on the Bitstamp exchange, with the day low at $613 USD.

The good news: now’s an excellent time to buy if you’re looking to acquire some bitcoin. There’s always the possibility the price will go down even further, but it’s important to not get too greedy. There’s no easy way to time lows, so don’t try.

Expect a lot of activity overnight into Tuesday morning as the folks in Asia (where all of this drama is taking place) are trading hard and fast (and by that we mean selling).