Over Labor Day weekend China all but outlawed new issuance of new digital currency and that has cast quite the shadow on the existing cryptocurrency markets. As a result, Bitcoin is trading today (Monday) down just shy of 15% from last week's highs. A debacle, right?
China's action has had the effect of more of a speed bump is a residential area. Bitcoin will eventually find its way to the interstate up ahead.
Let's be objective, Bitcoin is down 15% from its recent high above $5,000. AS I write this, Bitcoin is priced exactly where it was one week ago, $4,350, which is up 34% from where it was one month ago, and up 626% from where it was priced one year ago.