Chinas reported plans to end cryptocurrency trading hit bitcoin price
This is what it looks like on coinmarketcap. First, even though several days have passed since the original report, there has been no official notice on the matter from the People's Bank of China. When it comes to Bitcoin, China's authorities are known to change their minds often, and a lot of the time they've been ambiguous on what they plan to do. Another day, another crash and another Chinese ban. There are several indicators that Caixin 's report on China banning all crypto exchanges might be false or only partially true.
This is what it looks like on coinmarketcap. We're using cookies to improve your experience. Business Like Follow Follow. The answer is unclear at this point, but the market either no longer believes the report, or it simply doesn't care. And they ain't even decentralized — cnLedger cnLedger September 9,
Back inbitcoin dropped more than 50 percent as the government asked BTCChina to stop accepting deposits in Chinese yuan. But three days later, the price of Bitcoin and most other major cryptocurrencies including Ethereum is rising again. This is what it looks like on coinmarketcap. Authorities thought ICO tokens were like securities, and some of them were a scam.
Back inbitcoin dropped more than 50 percent as the government asked BTCChina to stop accepting deposits in Chinese yuan. Bitcoin is currently down 7. And they ain't even decentralized. This time, as Reuters spotteda single report from financial news site Caixin is saying that the Chinese government is considering banning cryptocurrency exchanges in China.
And they ain't even decentralized — cnLedger cnLedger September 9, But three days later, the price of Bitcoin and most other major cryptocurrencies including Ethereum is rising again. Late last week, a report from Caixin shook the Bitcoin world. Several experts weighed in following the reports, saying the money will ultimately move elsewhere in case of a ban.
Was the report false? Margin trading is also forbidden in China. Second, three of the largest exchanges in China— OKCoinBTC China and Huobi— said on Monday that they haven't heard anything about a ban from the country's regulators, at least not officially. Click Here to find out more.
Second, three of the largest exchanges in China— OKCoinBTC China and Huobi— said on Monday that they haven't heard anything about a ban from the country's regulators, at least not officially. Bitcoin is currently down 7. According to the state-owned media outlet, China plans to ban all cryptocurrency exchanges. Where there's demand, the money will find a way to get to those exchanges. There are several indicators that Caixin 's report on China banning all crypto exchanges might be false or only partially true.
Make no mistake—China definitely can pull such a move. In other words, Bitcoin should be plummeting. Late last week, a report from Caixin shook the Bitcoin world.
For instance, Bitcoin is down The answer is unclear at this point, but the market either no longer believes the report, or it simply doesn't care. Click Here to find out more. Where there's demand, the money will find a way to get to those exchanges. We're using cookies to improve your experience.