How the Chinese Government Influences Bitcoin - and Vice Versa
The sudden announcement of inspections of major Bitcoin operators by the Chinese Central Bank caused panic and a significant drop in Bitcoin price within just a day. In the past few days, Bitcoin has been shedding most of the gains of the end of 2016 and early 2017. These gains were attributed mostly to activities of Chinese traders who did huge volumes in the market, thereby singlehandedly increasing the global demand for Bitcoin. Government impact. One characteristic that the users of Bitcoin have always boasted about is the fact that the government cannot control or determine what....
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