/ Bart Everson Bitcoin is getting demolished, trading down 12% at $797 per coin,

a $108 per coin drop, as of 7:19 a.m.

The fall comes after China announced it has begun an investigation into bitcoin exchanges in China and Shanghai

for market manipulation, money laundering,

unauthorized financing and other issues, Reuters reports.

Wednesday's selling comes following three days where the

The text above is a summary, you can read full article here.