Ironically, China, the second largest economy in the world, helped push Bitcoin prices to the clouds and now is pulling prices back to earth. In the last week, China has delivered three knockdown punches. First the central bank forbade its banks from accepting Bitcoin as currency. Then, Baidu, China’s Google equivalent, announced it would no longer process Bitcoins. Finally, China banned third-party payment companies from transacting with Bitcoin exchanges. This last announcement significantly weakens market liquidity for BTC China, the largest Bitcoin exchange. By voting “No” on Bitcoin, China fueled greater market skepticism. Markets have already responded by lopping off, at the low, $6 billion in Bitcoin investment value.