Chinese state-run newspaper Economic Daily has warned investors that the price of leading cryptocurrency Bitcoin is “heading to zero”. The warning came as the cryptocurrency market continued to face meltdown with Bitcoin hovering around $21,000 per digital coin. It is a substantial drop from its record high of $68,000 in November last year. The Chinese government banned Bitcoin mining in July last year. It has plans to launch its central bank digital currency (CBDC) called the digital Chinese yuan (e-CNY).
