Bitcoin price in RMB falls below 2,000

  Bitcoin prices traded at a low level in the Asian session on Wednesday (November 11), and the recent weak trend continued. RMB ( 6.3624 , 0.0021 ,   0.03% ) Bitcoin fell below the 2,000 mark.

The quotes released by BITSTAMP showed that Bitcoin/US dollar (XBT/USD) fell from the 380 level yesterday to below 330 overnight, and traded at the 310 level at the low point of the Asian session this trading day.

(Bitcoin/US dollar time-sharing chart Source: Bloomberg, FX168 Financial Network)

The quotes released by KRAKEN showed that Bitcoin/Euro (XBT/EUR) fell from the 350 level yesterday to around 310 overnight, and broke through the 300 mark in the Asian session of this trading day.

(Bitcoin/Euro time-sharing chart Source: Bloomberg, FX168 Financial Network)

The quotes released by Huobi.com show that Bitcoin/CNY fell from the 2520 level yesterday to 2080 overnight, and even fell below the 2000 mark in the Asian session of this trading day.

(Bitcoin/RMB 30-minute chart Source: Huobi.com)

On the industry front, according to Coindesk, Kara Stein, a commissioner of the U.S. Securities and Exchange Commission (SEC), issued a warning against the hype surrounding blockchain technology and distributed ledgers.

Kara Stein believes that the ideas for some applications are still "in their infancy" and that the relevant technology needs to be continuously evaluated by regulators, academia, and capital market participants before it can live up to its "exaggerated" hype.

It is reported that this is the first time the SEC has expressed its opinion on Bitcoin or blockchain technology.

At 13:12 Beijing time on November 11, Bitcoin/USD was 316.18, Bitcoin/Euro was 295.00, and Bitcoin/RMB was 1960.10.