Déjà vu? Bitcoin Price Slips Below $900 Amid China News
The price of bitcoin has declined more than 11% already today, a development that comes amid a week of high market volatility. The movements are the latest in a week of trading that has seen the price of the digital currency nearing all-time highs before falling nearly $200 in a matter of hours and later recovering. At press time, the price of bitcoin is averaging $899.00 across global exchanges, according to data from the CoinDesk Bitcoin Price Index (BPI). The news also notably follows a decision by the People's Bank of China (PBoC), China's central bank, to publicly disclose that it had....
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The price of bitcoin on the CoinDesk Bitcoin Price Index (USD BPI) remained below $500 on Friday 28th March, amid continued uncertainty over whether the Chinese government would seek to prohibit banks from working with digital currency exchanges. Sources in China indicated that the reports, which first surfaced on 27th March, appear to be true, though the People's Bank of China, the country's central bank, has yet to give any formal indication that its position on bitcoin and other digital currencies has shifted. At press time, the price of bitcoin had recovered slightly from an open of....
The day has come, about an hour ago BTC China tweeted "Dear users, Due to regulations, we have suspended CNY deposits from Bank of China. For further enquiries, pls email: [email protected]." The news came as no surprise to most, as speculators have been claiming this day would come since China's first announcement in December. Some users on reddit even embraced the news, claiming that news from China would no longer cause large price fluctuations. FXBTC also announced Friday on their website that the site would stop operating and the site would be open until May 10th, 2014. Bitcoin....
Bitcoin's recent bull run is giving back some recent gains amid coronavirus-induced losses in the global stock markets.
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....
Didn't get a chance to check out all the awesome news and features on CoinDesk this week? Don't panic: here are the news highlights you may have missed out on. Price of bitcoin falls under $500: The price of bitcoin dropped below $500 amid uncertainty whether the China government would try to prohibit banks from working with digital currencies. Three China-based bitcoin exchanges suspend trading: BTC38 was the first to suspend fiat-to-digital currency trading after a shift in policy from the People's Bank of China. OKCoin and FXBTC followed hot on its heels. eBay adds 'virtual currency'....