The price of bitcoin hits $4,400 after the huge drop in value caused by the China reports the ban on ICO’s and cryptocurrency crowd funding according to the sources.

As the cryptocurrency markets getting overflowed with the mix of real and false news from China regarding the cryptocurrency and shut down of Bitcoin exchange by the Chinese high authorities. The decision is still pending for the confirmation on any kind of reports. That has shaken the bitcoin industry after the great rise in the price of bitcoin hitting the highest record of $5,000.

However, bitcoin is now recovering back slowly from the high voltage news from the China. This could be a relief for many investors and traders in the cryptocurrency market. Today the price of bitcoin passed the $4,400 and drop by $100 again.

The digital asset has great potential to grow and hence proved right when the Chinese market recorded the rapid increase in demand and price of the bitcoin. The leading exchange of China such as Huobi, BTCC and OKCoin have not confirmed on any of the news for the bitcoin exchange shut down neither it has been heard from the People’s Bank of China on releasing any directives for the exchanges or any information related to the matter.

There are the chances for the record high price of bitcoin in coming future according to the sources.