Breaking: BTCChina to Stop All Trading, Bitcoin Price Crashes
- While an official confirmation of China's ban on Bitcoin exchanges has still not surfaced, this seems to confirm the matter.
BTCC, one of the largest Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term exchanges in China and the world, has just announced that it will cease all trading operations by the end of September. The market has responded quickly and the price of Bitcoin has fallen to just around $3545 at this time.
Learn how to buy Bitcoin and Ethereum safely with our simple guide!
1/ After carefully considering the announcement published by Chinese regulators on 09/04, BTCChina Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term will stop all trading on 09/30.
— BTCC (@YourBTCC) September 14, 2017
As a reminder, the price of Bitcoin reached an all-time high of $5000 less than two weeks ago.
This move is not all that surprising, considering that there have been reports in the Chinese media for the past week regarding a possible ban on Bitcoin exchanges by the country's financial regulators. While an official confirmation of this ban has still not surfaced, this move by BTCC seems to confirm the matter.
It is also very likely that we will see all the other top exchanges in China following suit in the coming hours and days - representatives of the Chinese regulators will explain their intentions to the exchange operators in private rather than publish an official clarification regarding the legality of Bitcoin trading in the huge Asian market.
While the dominance of China in terms of Bitcoin trading volumes cannot be understated, other markets in Asia have risen in importance over the past year, Japan and Korea most notably. Given this, there is room for optimism that trading volumes will not fall by 90%, which would have happened for sure if this had happened a year ago.
BTCC, one of the largest Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term exchanges in China and the world, has just announced that it will cease all trading operations by the end of September. The market has responded quickly and the price of Bitcoin has fallen to just around $3545 at this time.
Learn how to buy Bitcoin and Ethereum safely with our simple guide!
1/ After carefully considering the announcement published by Chinese regulators on 09/04, BTCChina Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term will stop all trading on 09/30.
— BTCC (@YourBTCC) September 14, 2017
As a reminder, the price of Bitcoin reached an all-time high of $5000 less than two weeks ago.
This move is not all that surprising, considering that there have been reports in the Chinese media for the past week regarding a possible ban on Bitcoin exchanges by the country's financial regulators. While an official confirmation of this ban has still not surfaced, this move by BTCC seems to confirm the matter.
It is also very likely that we will see all the other top exchanges in China following suit in the coming hours and days - representatives of the Chinese regulators will explain their intentions to the exchange operators in private rather than publish an official clarification regarding the legality of Bitcoin trading in the huge Asian market.
While the dominance of China in terms of Bitcoin trading volumes cannot be understated, other markets in Asia have risen in importance over the past year, Japan and Korea most notably. Given this, there is room for optimism that trading volumes will not fall by 90%, which would have happened for sure if this had happened a year ago.