bitcoin crash 2017 - bitcoin falls again
"bitcoin crash 2017 - bitcoin falls again"
in the news bitcoin crash 2017 - bitcoin falls again? What this all about..... See below.
Sentiment Trader here saw Bitcoin Fall 15% today On China Probe
It’s a bad day for bitcoin. Today the news broke that China’s central bank will be launching probe into bitcoin exchanges on Beijing and Shanghai, and it send the cybercurrency falling to just above $769, a 15% drop.
(PBOC) or the peoples bank of china said the probe of bitcoin exchanges BTCC, Huobi and OKCoin was to look into a range of possible rule violations, including market manipulation, money laundering and unauthorized financing. It did not say if any violations had been found.
Chinese authorities have stepped up efforts to stem capital outflows and relieve pressure on the yuan.
That, and the relative anonymity the digital currency affords, has prompted some to believe bitcoin has become an attractive option for tech-savvy Chinese to hedge against the yuan and skirt around rules limiting how much foreign exchange individuals can buy each year. Here is the chart..... As you can see the trendline on bitcoin that has been in tact since SEPT 2015, has now been broken!!
|bitcoin crash 2017 - bitcoin falls again|
So far, 2017 its been a very wild start for bitcoin. The cybercurrency gained 120% in 2015 and then went on to rally more than 20% during the first three trading days of the new year to cross the $1,000 mark for the first time since November 2013.
But worries surrounding a crackdown on trading in China have pressured bitcoin over the past several trading days, with the currency losing roughly 30% of its value over the past four sessions.
Its current price is 776 as of the close.
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