Receive all Cointelegraph news immediately in Telegram.
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.
Bitcoin price is maintaining a strong position at $1060, which was considered an all-time high value for four straight years since 2013, prior to the fall of Mt. Gox.
LocalBitcoins is celebrating new all-time trading highs across its platform as Chinese investors continue to use it as an exchange replacement.
The size of the Japanese Bitcoin exchange market surpassed that of China and the US, overtaking two major markets to become the largest Bitcoin exchange market in the world.
BTCC, the largest Bitcoin exchange in China, has told customers crypto withdrawals will resume after March 15. The exchange is moving to implement required compliance procedures to appease the People’s Bank of China.
Cointelegraph explains China's influence on Bitcoin volatility and possible consequences for the traders.
Former governor of the Bank of China stated that the Chinese Central Bank should try to regulate Bitcoin companies and users rather than attempting to stop the adoption of Bitcoin.
The 30-day average moving price of Bitcoin has reached all-time highs. Data compiled by Bitstamp shows the price to have sustained its longest high-end price point in the cryptocurrency’s history.
LocalBitcoins may come under scrutiny from the People’s Bank of China, users fear after the marketplace became Chinese investors’ new trading hub and set record trading highs last week.
A full-grown populist sentiment in Europe would make the Chinese factor over Bitcoin price wane completely.
Hindu astrologists on what lies ahead for Bitcoin.
Chinese investors are putting their faith in LocalBitcoins to exchange Bitcoins after major exchanges in the country stopped allowing withdrawals of BTC. The move was in response to warnings from the People’s Bank of China about AML/KYC regulations.
While on the global scale fintech is growing rather rapidly, the industry is absolutely booming in Asia, and particularly in China.
Now top three Chinese exchanges suspend Bitcoin and Litecoin withdrawals. Unlike a month for others, BTCC estimates that their withdrawals will be delayed by roughly 10 days.
Akin Fernandez, a software engineer and owner of the Bitcoin startup Azteco, predicts that China will not enjoy the benefits of Bitcoin.
Bitcoin price plunged 9 percent overnight, declining from $1,060 to $959 across major global Bitcoin exchanges. The short-term drop in price was likely caused by the announcement of Huobi and OKCoin to temporarily disable Bitcoin and litecoin withdrawals for one month.
For updates and exclusive offers, enter your e-mail below.
You registration completed successfully.
Confirmation email sent to email address provided.