China Pushes Bitcoin Bellow $900 for the Second Day in a Row
- After recovering much of yesterday's losses, Bitcoin tanked again due to a notice from the Chinese central bank.
As China dominates the 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 ecosystem, with both the biggest mining operations and most active exchanges, every development in the market can send the price of the cryptocurrency shooting up or down. Today it is down again.
To unlock the Asian market, register now to the iFX EXPO in Hong Kong.
Yesterday it was unconfirmed online rumors of a clampdown on virtual capital outflows in China that triggered a selloff, sending the price from as high as $1140 to lower than $900. Today it is an official call to act rationally by the People's Bank of China (PBOC) that spooked investors. After the BTC/USD 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 rate rebounded above the $960 levels it is now back around $880.
According to Reuters, earlier today the Chinese central bank called on the country’s institutional and individual investors to take a “rational approach to investing in virtual currencies such as bitcoin.”
The PBOC said in a notice that as the cryptocurrency’s price has showed abnormal fluctuations, its officials were prompted to meet representatives of Shanghai-based BTCC, one of the biggest bitcoin exchanges in the world. The PBOC officials cautioned against potential risks in the platform's operations and asked it to carry out "self-inspection" according to the law, the bank notice said.
The central bank also reportedly stressed again that bitcoin is not a currency and cannot be circulated as a real currency in the Chinese market.
Link to the official notice (in Chinese) at the PBOC website, here.
As China dominates the 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 ecosystem, with both the biggest mining operations and most active exchanges, every development in the market can send the price of the cryptocurrency shooting up or down. Today it is down again.
To unlock the Asian market, register now to the iFX EXPO in Hong Kong.
Yesterday it was unconfirmed online rumors of a clampdown on virtual capital outflows in China that triggered a selloff, sending the price from as high as $1140 to lower than $900. Today it is an official call to act rationally by the People's Bank of China (PBOC) that spooked investors. After the BTC/USD 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 rate rebounded above the $960 levels it is now back around $880.
According to Reuters, earlier today the Chinese central bank called on the country’s institutional and individual investors to take a “rational approach to investing in virtual currencies such as bitcoin.”
The PBOC said in a notice that as the cryptocurrency’s price has showed abnormal fluctuations, its officials were prompted to meet representatives of Shanghai-based BTCC, one of the biggest bitcoin exchanges in the world. The PBOC officials cautioned against potential risks in the platform's operations and asked it to carry out "self-inspection" according to the law, the bank notice said.
The central bank also reportedly stressed again that bitcoin is not a currency and cannot be circulated as a real currency in the Chinese market.
Link to the official notice (in Chinese) at the PBOC website, here.