Bitcoin is tumbling after Chinese regulators say an exchange ban is certain

Bitcoin continued to tumble Thursday, trading down 6.6% to $3634.82 per dollar at 8:13 a.m. ET, after Chinese media reported the country's regulators were moving closer to shutting down exchanges.
Reports from Bloomberg and The Wall Street Journal on Monday first indicated that China planned to ban trading of bitcoin and other virtual currencies on its exchanges.
According to Bloomberg's Lulu Yilun Chen, China Business News reported that the city of Shanghai has verbally halted bitcoin exch