China's Bitcoin Traders Are Losing Confidence in Exchange Prices
The decision by China's bitcoin exchanges to freeze withdrawals is impacting the country's over-the-counter (OTC) markets. As reported by CoinDesk last week, two of China's 'Big Three' bitcoin exchanges abruptly suspended bitcoin withdrawals in response to new pressures from the People's Bank of China, a move that was followed by similar, though less restrictive, policy updates from exchanges across the country. But while the price was not significantly impacted, traders are reporting that they have had to shift strategies, as they believe exchanges no longer act as a reliable price....
Related News
Bitcoin traders were waiting to hear just the words Department of Justice representatives offered up. When the DOJ told a Senate committee that Bitcoin constitutes a “legal means of exchanges,” prices surged. One BTC commanded $744 on the Bitstamp exchange, and prices flirted with the $900 mark on Mt. Gox. Bitcoin prices have increased more than 40-fold this year. Much of that has been brought on by an increasing level of interest from China, where a liquid, unregulated currency is seen as an attractive investment by citizens who have trouble even getting their national currency across the....
Mt. Gox - the self-proclaimed world's largest bitcoin exchange - is losing its place. BTC China now has the highest monthly volume among exchanges, with about 1,031,000 BTC (at the time of this writing). The news comes as interest in Bitcoin in China has spiked over the last several months, prompting millions of buys from the Chinese, subsequently driving up prices around the world. How will Mt. Gox fare in the months ahead?
The price of litecoin surged across major exchanges in anticipation of Huobi, one of the largest China-based digital currency exchanges, officially adding support for litecoin trading today. The exchange added to the anticipation after announcing the news last week by adding a 'moon landing' countdown clock to its site: As of press time, the price of litecoin on exchanges BTC-e and Bitfinex had hit a high of $20.25 and $20.33, respectively, before dropping to $19.35 and $19.39. These figures were up from opening prices of $17.49 and $17.50, according to data from BitcoinWisdom. Against....
Ethereum prices recovered on Sunday amid a market-wide upside correction while receiving an additional upside boost from a bullish JPMorgan & Chase report. Ethereum's native token Ether (ETH) staged a rebound on Sept. 26 following a massive decline earlier this week that saw its prices plunging to as low as $2,651 on Coinbase.The ETH/USD exchange rate rose 3.63% to hit an intraday high of $3,030. The upside move amounted to a 14.3% upside retracement from the pair's week-to-date low at $2,651, showing that traders attempted to retain their bullish bias despite potential headwinds....
Chinese bitcoin exchange BTC China hit its all-time high at the weekend, trading bitcoin at ¥1,978 each. The record surpasses the previous Chinese high of ¥1,944 back in April this year, which, although Western media generally quotes the Mt. Gox high of $265, was actually equivalent to approximately $308. It seems the Chinese are willing to pay premium prices for their bitcoins, as exemplified by this recent breakout, with reports that much of the recent surge in the value of bitcoin can be attributed to the enthusiasm of Chinese traders. The thirst of Chinese traders. BTC China CEO Bobby....