The bullish momentum that had been growing across the cryptocurrency ecosystem over the past few days came to a screeching halt on Sept. 24 as news that China had banned cryptocurrency transactions made the rounds on social media and initiated an abrupt fall in the price of (BTC) from $45,000 to $42,000.

The market took a few minutes to absorb the news and then traders got back into action to take advantage of dips on various altcoins.