China’s Stock Market Freefall a Boon for Bitcoin
[Update 11am GMT: The Bitcoin price has been soaring in the past few hours seemingly due to an influx of buying in China. Chinese exchanges Huobi and OKCoin have seen bitcoin trading for US$350 and US$380, respectively, compared to ~US$286 on Bitfinex and elsewhere.] China’s stock market woes have been part of the reason for bitcoin’s recent rise in price. Considering the country’s dominance in bitcoin trading, continuation of falling stocks could fuel another record boom similar to what occurred back in late 2013 when the price soared beyond US$1,000. The Shanghai and the Shenzen have....
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