[2017-02-22] The Fate of the Bitcoin Market in China

[Kemarit]

Bitcoin has gained a massive amount of popularity since its creation in 2009. The currency that very few people took seriously has become one of the most attractive on the market and China has played a huge part in its growth. The country was responsible for almost 90% of global Bitcoin activity. In 2016, Bitcoin was the world‘s top performing currency as it was the year before that, but 2017 seems to be going differently. It was priced slightly over $1,000 in the first week of January. The cryptocurrency has been on a downward spiral, especially after the People’s Bank of China issued some cautionary statements regarding Bitcoin exchange eliding investors to wonder if China has lost its belief in the power of Bitcoin.

Link: http://www.livebitcoinnews.com/fate-bitcoin-market-china/

[cr1776]

Bitcoin has gained a massive amount of popularity since its creation in 2009. The currency that very few people took seriously has become one of the most attractive on the market and China has played a huge part in its growth. The country was responsible for almost 90% of global Bitcoin activity. In 2016, Bitcoin was the world‘s top performing currency as it was the year before that, but 2017 seems to be going differently. It was priced slightly over $1,000 in the first week of January. The cryptocurrency has been on a downward spiral, especially after the People’s Bank of China issued some cautionary statements regarding Bitcoin exchange eliding investors to wonder if China has lost its belief in the power of Bitcoin.

Link: http://www.livebitcoinnews.com/fate-bitcoin-market-china/

This is an odd statement given where the price is today. 

Likewise, depending on how you measure "activity" the 90% figure seems quite overstated.

 

[notthematrix]

How most clickbait posts are driven https://scout.ai/story/the-rise-of-the-weaponized-ai-propaganda-machine
see the same pattern all the time.. price high doom and gloom , pricer low notting or investment blah...
The truth is Bitcoin does not care its decentralized.
and the 90% proofs to be quite wrong since chineese excanges do not matter thats mutch.

[Papa Bear]

The primary motivation for investors to run to bitcoin is the decreasing value of paper currency. The Yuan has been performing particularly poorly in the last several months, which left investors worried.The fact that the cryptocurrency does not have government regulations is another reason for its appeal. Investors don’t have to get anxious every time there are monetary policy changes from the central bank or other regulatory agencies.China’s position as a major digital currency player means that any actions on its part cause ripple effects across the sector. The supply and demand of Bitcoin have remained somewhat consistent over the past few weeks, which has contributed to its recovery.