Bitcoin Price Drops 8% Amid China Rumors, Who’s to Blame?
Bitcoin’s highest influence allegedly stems from China — the truth behind these words is evident once again. Bitcoin has plummeted by a full eight percent in light of rumors that Chinese legislators are looking to implement regulations that could bear potential restrictions on bitcoin’s use. What’s Going on in China? Following several healthy weeks, bitcoin has fallen to about $705 from a high of $740, and investors aren’t happy. The new rules that China is possibly implementing would limit bitcoin trading by preventing exchanges from transferring funds to platforms outside Chinese....
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Bitcoin has undergone a healthy rise over the last few weeks. Spiking to about $745, many questioned whether the digital currency was on the verge of hitting the $800 mark, which seemed relatively likely at the time considering bitcoin’s ongoing ascension. Sadly, things didn’t quite turn out that way. Following rumors of newfound bitcoin regulation in China, the price ultimately fell to around $705 at press time, causing many investors and crypto-enthusiasts to panic. The price is now beginning what appears to be another gradual jump to the top, currently sitting at the $709 mark, but a....
Have you noticed a trend lately? It seems like every number of days, some "news" comes from China regarding a ban of some sort. If not outright, then the discussion surrounds banks and other financial institutions from being barred from bitcoin dealings. And every single time there's panic. And what happens when there's panic? The price drops. Someone makes a lot of money. I received an email this morning from a reader asking why I haven't covered this latest news coming from China. Apparently, these "talks" between the People's Bank of China and financial institutions are getting serious.....
Glued to the charts in the past few days? We don't blame you. While watching the price of bitcoin move so rapidly can be interesting, seeing it drop rapidly in a downward trend may have some investors at the edge of their seats. We're observing prices in USD sink below the $450 mark at Bitstamp, down a whopping 11 percent in the past twenty-four hours alone. We saw the bitcoin price remain somewhat stable in the $500 range for a couple of days late last week, so the obvious question is: how much lower can it go? As you're aware, nobody knows. But many of us are in agreement that the....
The price of Bitcoin has been steadily climbing upwards in the past two days as the April 15 deadline for Chinese-based lenders and payment companies to close the trading accounts of more than 10 domestic Bitcoin exchange platforms, has come and went. First, not every exchange has received a notice about the closing of their accounts. Second, Bobby Lee, CEO of BTC China, has clarified that it’s “business as usual” and that nothing has changed despite rumors, which he dubbed as fake. In a cnbc report, Bobby Lee confirmed that the rumors were in fact just that: “As far as BTC China is....
Once again the bitcoin community has been dizzy due to the significant price increase, the following correction, and rumors of China. After the sharp price rally, the discussion has turned to the Chinese central bank warning about the volatile cryptocurrency bitcoin. Rumors From China Once Again Stir the Crowd. Here’s what we know. The price of....