Bitcoin started dropping from its peak on May 12, not long after Tesla CEO Elon Musk announced his company would no longer accept the currency as payment.
By May 21, Bitcoin had lost 10 percent of its value, as Chinese authorities help sustain the net loss.
China's State Council announced it would clamp down on mining and trading to "prevent and control financial risks."
The world's second-biggest economy has discouraged buyers, but experts believe this is just another angle of its overall volatility.
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