Bitcoin price slumps further as China tightens crackdown

Investors wary after authorities in Sichuan ordered bitcoin mining projects to close

Bitcoin has tumbled further in the wake of China's expanding crackdown on bitcoin mining, as investors grow more uncertain about the future of the leading cryptocurrency.

Bitcoin fell as low as $31,333 on Monday, a two-week trough, dragging down other cryptocurrencies. The world's biggest cryptocurrency has lost more than 20% in the past six days alone and was at half its April peak of almost $65,000. In the year to date, it remains up about 11%.