The ban of ICO in China affected the Crypto-currency course

Information on that the Chinese authorities have banned the conduct of Initial Coin Offering in the country, led to a significant decline in the rate of basic crypto currency. The most popular bitcoin currency was most affected. Most of the Crypto-currency, according to the sites monitoring the dynamics of the exchange rate, for the first day after the announcement of ICO ban in China, lost from 10% to 20% of the cost. The most popular crypto currency, bitcoin set a new record on the day before, breaking the bar of 5000 US dollars. After the news from China, bitcoin lost a fifth of its value, falling about to 4000 US dollars. Nevertheless, this rate is much higher than even at the beginning of this year. At the moment, the Chinese authorities are investigating the activities of platforms and companies participating in ICO. As of July this year, 65 ICOs has already passed in China totaling 2.6 billion yuan (about 395 million$), which involved about 105,000 users.