(Bloomberg) -- Bitcoin traders seem to be taking Monday's 11 percent slump -- triggered by China ruling initial coin offerings illegal -- as a buying opportunity. The cryptocurrency is rising a second day, gaining back about 4.5 percent over that period as of 3:27 p.m. Hong Kong time, and Monday's losses have barely made a dent in bitcoin's 2017 surge, with the virtual currency still up 379 percent since January. China's central bank ordered all fundraising related to ICOs halted immediately, the strongest regulatory pushback thus far to the swelling market for digital token sales.
To contact the reporter on this story: Eric Lam in Hong Kong at elam87@bloomberg.net.
To contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Emma O'Brien, Colin Simpson
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
