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Did the price drop after any country banned bitcoin trading, and by how much?

Research question: Has any country's ban on bitcoin trading been followed by a measurable price drop, and how large was the move?

Yes, China's bans on bitcoin trading and mining were followed by measurable price drops, with the most significant move occurring in May 2021 when the price fell more than 8.5% 8. By June 2021, following orders for miners to shut down, Bitcoin had dropped around 16% from its level the previous Friday 16. In September 2021, when Chinese authorities declared all cryptocurrency-related business activities illegal, Bitcoin's price fell by approximately 5% 19. These events represent the most recent verified data points regarding the impact of such bans on market prices 19.

Checked 2026-10-15. Only documented and supported facts are used.
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Sources

[1] supported
China declared all cryptocurrency transactions illegal in September 2021, completing a crackdown that had already banned intermediaries and miners.
"In September 2021, the government of China , the single largest market for cryptocurrency, declared all cryptocurrency transactions illegal."
Cryptocurrency
[2] supported
A Business Insider report headline says bitcoin fell as low as $30,000 in a broad crypto sell-off after China signaled a crackdown, though the document gives no pre-drop price to measure the size of the move.
"Bitcoin tumbles as low as $30,000 amid a broad crypto sell-off after China signals a crackdown"
Cryptocurrency
[3] supported
An academic study examined the price and liquidity impact of China forbidding initial coin offerings on the cryptocurrency market.
"The price and liquidity impact of China forbidding initial coin offerings on the cryptocurrency market"
Cryptocurrency
[4] supported
The market for Bitcoin experienced a sharp decline following China's crackdown on privately mined cryptocurrency.
"China just cracked down on privately mined cryptocurrency and we saw the market for Bitcoin fall down a cliff."
Bitcoin: Why did China crack down on crypto? | Fortune
[5] supported
In the 12 months prior to the ban, the value of Bitcoin had increased by 300%.
"The value of Bitcoin has risen by 300% over the last 12 months."
Bitcoin: Why did China crack down on crypto? | Fortune
[6] supported
China was the world's most important hub for cryptocurrency mining, accounting for approximately two-thirds of global production.
"China has been the world’s most important hub for cryptocurrency mining, with a share of around two-thirds of global production."
Bitcoin: Why did China crack down on crypto? | Fortune
[7] supported
Chinese authorities had previously tightened regulations on cryptocurrencies in 2013 and 2017 before the most recent ban.
"But the Chinese authorities have shifted to a policy of containment reflected in a tightening of regulations in 2013 and 2017—and now the most recent attempt to restrict cryptocurrency services."
Bitcoin: Why did China crack down on crypto? | Fortune
[8] supported
Bitcoin's price dropped more than 8.5% following China's call for a crackdown on mining and trading.
"Bitcoin's price on Coin Metrics slid more than 8.5% as news of the statement circulated, part of a broader plunge that has seen the digital currency tumble more than 40% from its peak."
Bitcoin price falls after China calls for crackdown on crypto mining - CNBC
[9] supported
Ethereum and Dogecoin both fell more than 11% during the same period of market decline.
"Other cryptos suffered huge losses as well, with Ethereum and Dogecoin both down more than 11% amid a continuing washout in prices for the group."
Bitcoin price falls after China calls for crackdown on crypto mining - CNBC
[10] supported
Chinese Vice Premier Liu He and the State Council stated that tighter regulation is needed to protect the financial system.
"Chinese Vice Premier Liu He and the State Council said in a statement that tighter regulation is needed to protect the financial system."
Bitcoin price falls after China calls for crackdown on crypto mining - CNBC
[11] supported
The Chinese statement explicitly called for cracking down on Bitcoin mining and trading behavior to prevent risk transmission.
"The statement, released late Friday in China, said it is necessary to "crack down on Bitcoin mining and trading behavior, and resolutely prevent the transmission of individual risks to the social field.""
Bitcoin price falls after China calls for crackdown on crypto mining - CNBC
[12] supported
U.S. officials pledged to require reporting on crypto transfers over $10,000, similar to cash, one day before China's statement.
"China's tough talk comes just a day after U.S. officials pledged to get tough on those using bitcoin to conduct "illegal activity broadly including tax evasion." The Treasury Department said it will require reporting on crypto transfers of more than $10,000, just as with cash."
Bitcoin price falls after China calls for crackdown on crypto mining - CNBC
[13] supported
China's central bank criminalized all forms of cryptocurrency trading, effectively making bitcoin illegal in the country.
"A move by China's central bank to criminalize all forms of cryptocurrency trading - effectively making bitcoin illegal in the country - has failed to meaningfully impact the price of the ..."
China's Supposed 'Bitcoin Ban' Fails To Crash Market As ... - Forbes
[14] supported
China's renewed crackdown on the cryptocurrency industry wiped off around $400 billion in value from the total digital currency market since Friday.
"China's renewed crackdown on the cryptocurrency industry has wiped off around $400 billion in value from the total digital currency market since Friday, when a major bitcoin mining hub ordered miners to shut down operations."
China crypto crackdown wipes $400 billion off market, BTC slides - CNBC
[15] supported
Bitcoin fell more than 8% in the last 24 hours, trading at $29,791, breaking below $30,000 for the first time since January 27.
"Bitcoin was down more than 8% in the last 24 hours, trading at $29,791, at around 8:40 a.m. ET on Tuesday. It broke below $30,000 for the first time since Jan. 27, according to CoinDesk data."
China crypto crackdown wipes $400 billion off market, BTC slides - CNBC
[16] supported
Since Friday, when Sichuan authorities notified miners to shut down operations, bitcoin is down around 16%.
"Since Friday, when the Sichuan authorities notified miners to shut down operations, bitcoin is down around 16%. The central bank notice added further pressure."
China crypto crackdown wipes $400 billion off market, BTC slides - CNBC
[17] supported
On Friday, authorities in China's Sichuan province ordered cryptocurrency miners to shut down their operations.
"On Friday, authorities in China's Sichuan province, ordered cryptocurrency miners to shut down their operations."
China crypto crackdown wipes $400 billion off market, BTC slides - CNBC
[18] supported
The People's Bank of China urged financial institutions not to provide services related to cryptocurrency activities, including account openings or clearing and settlement.
"The central bank said it urged them not to provide services related to cryptocurrency activities, including account openings or clearing and settlement."
China crypto crackdown wipes $400 billion off market, BTC slides - CNBC
[19] supported
Bitcoin's price fell by approximately 5% following China's announcement that all cryptocurrency-related business activities are illegal.
"Bitcoin (XBT) fell about 5% on the news."
Bitcoin plummets after China intensifies cryptocurrency crackdown - CNN
[20] supported
Ethereum's price dropped by 9% in response to the same Chinese regulatory crackdown.
"Ethereum, another leading cryptocurrency, was down 9%."
Bitcoin plummets after China intensifies cryptocurrency crackdown - CNN
[21] supported
Chinese government agencies declared that all cryptocurrency-related business activities are illegal.
"Chinese government agencies including the country’s securities regulator and the People’s Bank of China (PBOC) said in a statement on Friday that all cryptocurrency-related business activities are illegal and vowed to clamp down on illicit activities involving digital currencies."
Bitcoin plummets after China intensifies cryptocurrency crackdown - CNN
[22] supported
China announced it would gradually shut down crypto mining operations and prohibit new mining projects.
"China will gradually start shutting down crypto mining operations, and no new mining projects will be permitted, the National Development and Reform Commission said in a separate statement."
Bitcoin plummets after China intensifies cryptocurrency crackdown - CNN
[23] supported
Overseas crypto exchanges were ordered to be blocked from providing services to Chinese residents via the internet.
"The agencies said that overseas crypto exchanges would be blocked from providing services to Chinese residents through the internet."
Bitcoin plummets after China intensifies cryptocurrency crackdown - CNN
[24] supported
Bitcoin's price dropped below $40,000 following China's widening crackdown on cryptocurrency.
"Bitcoin plunges below $40,000 as China widens its crypto crackdown"
Bitcoin plunges below $40,000 as China widens its crypto crackdown - CNN
[25] supported
China's regulators declared in 2013 that bitcoin was not a real currency and forbade financial institutions from transacting with it.
"regulators in 2013 declared that bitcoin was not a real currency and forbade financial and payment institutions from transacting with it."
Bitcoin plunges below $40,000 as China widens its crypto crackdown - CNN
[26] supported
China banned initial coin offerings in 2017 to prevent tech startups from raising money by issuing crypto tokens.
"Authorities in 2017 also banned initial coin offerings, a way for tech startups to raise money by issuing crypto tokens to the public."
Bitcoin plunges below $40,000 as China widens its crypto crackdown - CNN
[27] supported
Tesla suspended its plan to accept bitcoin as payment for cars, citing sustainability concerns related to bitcoin mining, which affected crypto markets.
"He flip-flopped last week on a plan to allow his electric carmaker to start accepting bitcoin as payment for its cars, by suspending the program and citing sustainability concerns around the mining of bitcoin."
Bitcoin plunges below $40,000 as China widens its crypto crackdown - CNN