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Join us for more information Bitcoin making a beeline for nothing, China cautions financial backers. Beijing: As digital forms of money reel under the worldwide slump, Chinese state-run paper Economic Daily has cautioned financial backers that the cost of driving cryptographic money Bitcoin is "going to nothing". The admonition came as the cryptographic money market kept on confronting an implosion with Bitcoin drifting around $21,000 per computerized coin on Saturday - - a significant drop from its record high of $68,000 in November last year. "Bitcoin is just a line of computerized codes, and its profits essentially come from purchasing low and selling high," the paper said. "Later on, when financial backers' certainty breakdowns or when sovereign nations announce bitcoin unlawful, it will get back to its unique worth, which is absolutely useless," it added, reports South China Morning Post. The Chinese government prohibited Bitcoin mining in July la...