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Author Topic: [2017-09-18] $4,000: Bitcoin's Price Shrugs Off China Exchange News  (Read 2973 times)
aysha9872
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September 18, 2017, 08:44:10 PM
 #1

Bitcoin's price has bounced back above $4,000 following market losses linked to the recent regulatory crackdown in China.

After China's early September ban on initial coin offerings (ICOS), news on September 15 that bitcoin exchanges were shutting down following directives from government officials sparked a market drop that sent prices reeling to a low of $2,981.

Since then, however, markets have recovered, and this morning's session saw bitcoin reach a price of $4,061 at press time, according to CoinDesk's Bitcoin Price Index.

Other cryptocurrencies are experiencing gains today as well. The combined cryptocurrency market capitalization is currently at $137 billion, according to CoinMarketCap data, up from a low of below $100 billion just three days ago.

Among the top 10 cryptocurrencies by market cap, several have seen notable rises in the past 24 hours, with ether (19 percent), bitcoin cash (14.3 percent) and IOTA (26.2 percent) reporting significant gains.

source: https://www.coindesk.com/bitcoin-price-recovers-from-china-news-to-hit-4000/


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September 18, 2017, 09:41:42 PM
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The current increase in the price of bitcoins to $ 4,063 indicates that the world community is ready to develop the crypto currency without the participation of China, which, according to the latest information, has prepared tough measures to stop the circulation of crypto currency in this country. It is also possible that the bitcoin rate was influenced by the positive for crypto currency information from Japan, where its crypt exchange Coincheck informed that it received a license from the Treasury department and the Financial Services Agency for operations with the crypto currency as a virtual currency exchange.

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September 19, 2017, 10:44:07 AM
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Now the largest market for digital currencies is Japan, because traders have decided to go to the "more peaceful place". according CryptoCompare, more than half of bitcoins sales is happening in Japan now with the participation of traders from China. China accounts for about 6-7 % of the global trade volume of bitcoin now.

From Monday bitcoin and other digital currencies have begun to improve their positions and I think soon we will see 5000$ again.

   
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