[2017-02-11] News18: BTC Trading Takes a Hit Under Chinese Government's Scrutiny

[polynesia]

Bitcoin Trading Takes a Hit Under Chinese Government's Scrutiny

http://www.news18.com/news/tech/bitcoin-trading-takes-a-hit-under-chinese-governments-scrutiny-1347775.html

Trading volumes at China's three largest bitcoin exchanges have plummeted after the central bank put the virtual currency market under sharper scrutiny a month ago in a move that coincided with official efforts to stem capital outflows.

China had been the world's leading venue for bitcoin trading, with analytics site Bitcoinity estimating that the OkCoin, Huobi and BTCC exchanges had accounted for more than 90 percent of the global bitcoin market on Jan. 11.

But data compiled by analytics platform Sosobtc showed the number of bitcoins traded on the three exchanges slumped from 13.6 million on Jan. 6 to just over 120,000 on February 9.

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[S_D]

More hits taken by Bitcoin && Bitcoin still survives = More reasons to trust on Bitcoin.

Bring it on!!
What doesn't kill you makes you stronger! ~~*
 

[Pattberry]

The Chinese will always come up with some sort of gimmicks to pull the price down if you feel that it will break some records.And with the recent stunt freezing the withdrawal of bitcoin from the exchanges people will never go back to those Chinese exchanges and if you look now the Japan based exchanges has taken over as the leaders in volume .

[bitcoinisbest]

If  Chinese government decide to restrict the btc or if they become more stricter they will ban it and then probably it will be the day from where downfall of btc will start and might be it could even reach 100$ in coming time.

[S_D]

If  Chinese government decide to restrict the btc or if they become more stricter they will ban it and then probably it will be the day from where downfall of btc will start and might be it could even reach 100$ in coming time.

Nah if BTC now drops bellow 600 it wont be viable to mine it.
BTC is too precious now to go down the drain.

[bitcoinisbest]

If  Chinese government decide to restrict the btc or if they become more stricter they will ban it and then probably it will be the day from where downfall of btc will start and might be it could even reach 100$ in coming time.

Nah if BTC now drops bellow 600 it wont be viable to mine it.
BTC is too precious now to go down the drain.

In India anyways only handful of people might be mining rest nobody mine btc. And China will not not think if price goes below 600$ so mining will be difficult. If they decide to sell that's it it will be difficult time for btc