Bitcoin Falls By $2,000 Over China Ban

China's central bank announcement on Friday that all transactions of crypto-currencies are illegal, effectively banning digital tokens such as Bitcoin and Ethereum in the country, has led to a sharp fall in the digital currency's value.

China used to be one of the world's largest crypto-currency markets and 95 percent of crypto mining is said to occur in the Asian country.

But on Friday the China Bank said, "Virtual currency-related business activities are illegal financial activities," warning that it "seriously endangers the safety of people's assets".

And soon after the announcement, the price of Bitcoin fell by more than $2,000, thus sending millions of average investors into panic.