Bitcoin Price Falls 8% as Chinese Government Plans Bitcoin Cap
Bitcoin price has been on somewhat of a roller coaster ride over the past week. On Oct. 28, Bitcoin was trading at around $690 before taking off last Saturday, reaching $720 according to Bitcoin Average. Correspondingly on Oct. 31, Bitcoin fell below $700, only to rebound strongly yesterday, swelling to over $745. Then the bottom fell out, as a free fall began, bringing Bitcoin price to the position it was at one week ago, losing 8% of its value. What is the cause of these fluctuations? China is Bitcoin’s epicenter and this leveling out of Bitcoin values may just be the beginning, as China....
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