Bitcoin price felt the impact of developments in China’s markets as Shanghai-based exchange BTCC announced the closure of operations come September 30.
The price of bitcoin fell to a global average low of $3,493 on the day, undoubtedly influenced by efforts by Chinese authorities to enforce a wide clampdown on domestic trading activity. In statements on social media, Shanghai-based BTCC – the world’s oldest bitcoin exchange announced it would stop ‘all trading’ activity on its regional platform at the end of the month.
According to data, the trading value of bitcoin at BTCC sunk to CNY16,000 (approx. $2,440) before rebounding toward CNY20,000 (approx. $3,050).
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