BTC Price Declines Following False Report of Bitcoin Ban in China
A false report published on a financial news feed run by Chinese microblogging site Sina Weibo was responsible for the sharp decline in bitcoin prices across China's biggest exchanges today (21st March). At 10:22 am GMT, Sina's financial live feed issued a now-retracted news report indicating that China's central bank, the People's Bank of China (PBOC), would move to halt all bitcoin transactions in the country effective 15th April. If true, the news would have interrupted a period of improved relations between the burgeoning bitcoin ecosystem and the nation's lawmakers, but coincided with....
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A headline that snuck its way on to the Sina Weibo live news feed on the 18th of March (but discovered late this week) is responsible for a sharp decline in the price per bitcoin, but much to the relief of traders, has been retracted. The then-unconfirmed report indicated the People's Bank of China (the country's central bank, also known as PBOC) would ban all bitcoin-related activity come the 15th of April. A follow-up report posted on the above-mentioned news feed sounds much more reasonable, noting that the People's Bank of China did make a statement related to bitcoin, but not in the....
Key Highlights. Dash price jumped higher before ending the past week, but it looks like it was a false break. The price was completely rejected around 0.0120BTC, which is a warning sign in the short term. 0116BTC is again a minor resistance area for more upsides. Dash price completely failing to trade higher is a worrying sign, as sellers look like controlling the current situation. More declines? The price moved higher recently, and even managed to clear a couple of important hurdles on the way up like a bearish trend line on the hourly chart and 0.0116BTC. However, it turned out to be a....
The digital currency markets experienced widespread price declines today, as concerns surrounding the latest developments in China motivated many traders to sell off not only bitcoin, but alternative digital assets. The development follows the PBoC's announcement today that it warned several domestic exchange operators that they must comply with regulations or risk being shut down. Traders also received startling news from major operations Huobi and OKCoin that, effective immediately, they would suspend bitcoin withdrawals for one month. Markets reacted strongly to these developments, with....