Bitcoin Price Maintains $4,200 Value Despite Troubling News From China
Things are not looking all that great for the cryptocurrency markets right now. Yesterday’s “fake’ news regarding Chinese regulators looking to ban all exchanges has created a lot of fear among cryptocurrency holders. This has had a negative effect on virtually all currencies in the top 20. The Bitcoin price, for example, dropped by nearly 8% due to this news.
It is not entirely surprising to see the Bitcoin price respond negatively thanks to yesterday’s China’s news. More specifically, there is still some uncertainty regarding what the regulation entails exactly.
Some sources claim all exchanges will be banned from operating, whereas other news sources indicate this is just a misunderstanding based on the news regarding China’s ban on initial coin offerings. It is hard to make sense of it all, but for now, major Chinese as exchanges are still operating as normal.
I currently live in china and they are saying that it is just a ban on ico's but with china you never can tell what they will do they are supposably banning vpn next year even though most outside busness rely on them
I guess only time will tell... I don't understand why people panic sell soon as they hear news like this. I live in the UK and if they banned it here I would just buy more