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The People's Republic of China is a country located in East Asia. China is a leading player in the Bitcoin market, hosting the world's largest share of Bitcoin miners and Bitcoin trading volume.
It would be naive to miss out the subtleness in the press releases of PBOC which sent Bitcoin spiraling down twice in January.
Recently, China has presented the world with an exemplary opportunity to make the Bitcoin market less dependent on it.
Bitcoin’s recent price plunge isn’t quite like late 2013 as many Bitcoin investors and traders assume.
The sudden announcement of inspections of major Bitcoin operators by the Chinese Central Bank caused panic and a significant drop in Bitcoin price within just a day. So is the cryptocurrency really beyond government influence?
Analysts from major research and development firms including EY and DBS expect China to lead the global fintech and blockchain industries.
In a surprise announcement, China’s central bank announces ‘on-site inspections’ on Bitcoin enterprises in the country, causing further Bitcoin price uncertainty.
A huge amount of trading in China seems to be creating a lopsided trading environment, a development that may look unhealthy to the cryptocurrency in terms of price stability.
Chinese consumers are rapidly moving towards non-bank and cashless alternatives, such as Alibaba’s $60 bln financial application Alipay.
If you believe in Bitcoin as an asset, you should keep holding it. If you are a short-term trader, you should trade it.
Some media misinterpreted the Chinese government and the People’s Bank of China actions in regard to Bitcoin, causing the price of the cryptocurrency to drop.
Bitcoin has substantially declined in value in the last 24 hours, plummeting by 21% after the Chinese government issued a warning to bitcoin users against potential risks.
Bitcoin may be small compared to other global currencies but it is the God of small things and its value represents hope which is priceless.
Chinese Bitcoin exchanges including BTCC, the largest Bitcoin trading platform in the market, broke an all-time high price CNY$7,666 or $1,103, surpassing the previous record of $1093.
Amid China’s Bitcoin price reaching all-time highs on BTCC, an industry figure has denounced the currency’s use as a tool against capital controls as useless.
There’s been a spike in the price of Monero since it announced its plan to launch a new feature for China.
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