Fake China Bitcoin Ban pushes BTC price below $600
BTC China was one of the first to respond to the rumour, saying they received no document about a ban. Update: it seems there was a document, saying People's Bank of China is looking into strengthening regulations. A ban on Bitcoin is definitely not part of it. The story is still developing, we will keep watching this closely. Bitcoin price has been dropping significantly since yesterday. Markets were responding worried after being told the People's Bank of China released a statement in which they stated all Bitcoin transactions should cease after the 15th of April 2014. Banned by April....
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The gold industry was shaken when it was discovered that 83 tons of fake gold bars were used to back loans worth 20 billion yuan in China. While Chinese authorities have not said whether the real gold exists or where it is, an insider claims to know what happened. The Mystery Behind the Chinese Scandal Involving 83 Tons of Fake Gold Bars One of China’s largest gold jewelry manufacturers, Kingold Jewelry Inc., was caught in a major fake gold scandal earlier this year. The company used 83 tons of gold bars to back loans worth 20 billion yuan ($3 billion) from 14 Chinese financial....
Since 2009, China and Hong Kong have "banned" or otherwise caused FUD in the crypto space on 18 separate occasions. The price of Bitcoin fell 5% today following “breaking” (read: weeks old) news that the People’s Bank of China, or PBoC, had declared all cryptocurrency transactions illegal.With that in mind, let's take a nostalgic look at the last 12 years of FUD out of China, and see if we can spot any patterns.China banned 'virtual currencies' for the first time in 20091: Chinese regulators have never exactly been crypto advocates. When cryptocurrencies were still in their infancy, i.e.....
Do you wonder why the Bitcoin price suddenly have increased this weekend? Take a look at the graph below of the Huobi trading volume. They have an insane trading volume now with more than 200 Bitcoins being traded every minute. They beat both Mt. Gox, Bitstamp and BTC China. So why has Huobi surpassed BTC China in trading volume? It has been said that current exchanges in China have used their CEO's personal bank accounts to start it off. BTC China's CEO Bobby Lee has been able to put up corporate bank accounts because of the risk involving his own personal bank account.While Thus Li Lin,....
Reddit has removed ads impersonating the Trezor shop, the most recent incident of fake bitcoin websites that scam users. Trezor advertises its bitcoin wallet as a secure home for bitcoin, but that does not prevent scammers from capitalizing on its name for malicious purposes. The Reddit administrators removed the ads more than 12 hours ago, according to a Reddit post. Reddit readers who notice malicious ads are encouraged to email Reddit at /r/r/reddit.com. Reddit Users Sent To Fake Site. Reddit users were directed to a cloned version of the Trezor site, according to The Merkle. Any order....
Bitcoin trading pushed the Bitcoin Price above our upper channel trendline and, today, declined during the Asian and European sessions from $303 to $282 (BitFinex) and slight recovery since. The market must now show us what it intends to do as trade has halted decline on a lower channel trendline. Bitcoin Price Analysis. Time of analysis: 15h00 UTC. BTC-China 1-Hour Bitcoin Trading Chart. The BTC-China hourly chart shows today's decline across the magenta channel lines we introduced in yesterday's analysis. Bitcoin price had targeted a pivot level at the upper channel trendline. The....