Chinese investors are driving up bitcoin again, pushing prices up by nearly 16 percent in the past four days, reported The Wall Street Journal.
Citing data from blockchain.info, the newspaper said the four-day surge in bitcoin since Friday has pumped $1.2 billion in market capitalization for all bitcoins in circulation. Prices rose as high as $525.49 per bitcoin, the publication said, albeit the value is still well below the record high of approximately $1,151 in November 2013.
Two Chinese exchanges – Huobi and OKCoin – now collectively account for roughly 92 percent of international trading in bitcoin, the Wall Street Journal said. Such operations are happening despite previous government efforts to curb bitcoin trading.
https://coinreport.net/bitcoin-buyers-china-fueling-cryptocurrencys-growth/
