BITCOIN DROP
As Bitcoin drops from $3,800 yesterday to $3,580 today, already losing approximately $1,400 from its peak of almost $4,900 (12 days ago), all eyes are currently monitoring the progress of the anti-Bitcoin campaign of the world's largest market (China).
BTCC TO CEASE OPERATIONS
One of the oldest cryptocurrency exchange platform, Shanghai-based exchange BTCC has announced that it will be closing down its trading by September-30, but continues to operate with its mining pools and international exchange. Following the exchange's statement, the price of bitcoin has dropped significantly to a low of $3,580.
In addition, according to an exclusive report by Shanghai-based business media, a verbal order has been issued to bitcoin exchange startups, ordering that they should cease operations by September 30.
People's Bank of China or the country's government has not yet provided any formal or official announcement regarding the ban of Bitcoin trading and it is still unclear if the ban will extend to other forms of trading.
Based on what happened, Bitcoin might still experience a price downfall as regulatory storm brews in china.
It Has Dropped But Some " Experts " Expect It To Bounce Back Up To What It Was Or Possibly Higher. Nice Post :)
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Well, it is expected to bounce back again, but it may not happened in the next few days as Bitcoin rushes down to $3199 (as of this moment).
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