History of China gave us the Great wall of China «the Art of war». To the question of cryptocurrencies China also came up in a big way — even in 2017, the country banned online trade coins. However, this does not prevent local investors to exchange coins on exchanges because the prohibition does not apply to peer-to-peer and OTC trading.
The Upcoming Chinese New year may be another cause of the fall . The celebration in the most populous country in the world would entail the withdrawal of a huge number of bitcoins in Fiat currency and the potential collapse of the market. According to preliminary estimates, in the coming couple of weeks China will leave tens of millions of citizens to spend new year holidays abroad.
theThe First celebration began on January 28, however the official New year in China begins on 5 February. Various national festivals will take place until February 19.
How all this will affect trading Bitcoin? Despite the restrictions, millions of Chinese captainvalor use VPN and make a significant proportion of liquidity in the auction. Even the largest crypto currency exchange Binance, which had previously been registered in China, left the country to continue their business.
Perhaps the fall of Bitcoin 27 January was partly connected with the Chinese New year. We will remind, several days ago the main cryptocurrency was trading above $ 3,500, but 24 hours later its value drastically fell to a support line in the area of 3349 dollars.
Source: World News
Let's hope the Chinese are not withdraw too much money from the capitalization of the stock market. February was almost always a month for the price of Bitcoin, maybe this time the trend will remain the same. After the end of the festivities, you can also expect the growth of altcoins, which are considered among local investors.
Recommended
the long-awaited summer. Niche cryptocurrency supported the event and gave unusually hot week. During the last seven days, we learned about the new line of graphics cards from AMD, the mining in TON and hard forks . In addition dealt with the profita...
Co-owner Bitcoin.org Coinbase Pro ridiculed and called a stock exchange Scam
co-Owner Bitcoin.org and most popular forum about cryptocurrency Bitcointalk.org Cobra called Coinbase Scam Pro trading platform American crypto currency exchange Coinbase. In his tweet he wrote «if you read Coinbase Pro backwards, get the word ...
The Ethereum is a cryptocurrency Scam. A new report Chainalysis
When people learned how to create a new cryptocurrency and began to build their infrastructure like marketplaces, in the field began to appear and fraud. According to blockchain auditor Chainalysis for the past two years, fraud in the ecosystem has s...
Related News
VEB and the Grozny mayor's office transferred the housing sector on the blockchain
In February, the first Deputy Chairman of VTB Olga Dergunova positively the prospects of the blockchain. According to her, the technology will improve the speed of transactions and security standards. To move from words to action ...
Hacker 1337. How to hack Etherscan not to cause any harm
Monday on the website Etherscan.io appeared a pop-up message with the numbers 1337. The visitors began to panic and spread rumors about hacking Explorer. really hacked, but the damage from a hacker attack was zero. About it writes...
Bitcoin is greatly undervalued and should be worth 10 thousand dollars
One of the leading cryptanalysts in Twitter account under the name PlanB said on his page that at the moment greatly underestimated. As noted PlanB in response to the comment about basic status and Bitcoin value, BTC is similar to...
Expert: cuts in rewards per block Bitcoin and Ethereum will lead to the growth of the stock market
In the last 72 hours of the stock market capitalization grew by $ 3 billion amid the consolidation of positions and . Both of bitcoin has risen about 3 percent from January 29 and continue to move in a narrow channel. Trader under...
The results of the week: Ethereum hold above $ 100. The bulls are back in business
fortunately, still managed to hold above $ 100 this week. Cryptocurrency can grow in the near future, but it will first have to overcome the important resistance area of $ 114. Perhaps this will help the issue of ETH and an increa...
winter reached the final stage of February, while cryptoseal continues. This week broke a record ICO BitTorrent, Ethereum and the emission is significantly decreased. NiceHash added support Beam, the experts shared various predict...
The results of the week: Bitcoin could jump above $ 3,500. What's next?
this week I started to submit first signs of forming a local ascending movement of the price. However, the asset may still encounter serious resistance sellers in the area of $ 3,500. A break of this line will open the bulls the w...
Max Keiser: Unable to hit me, but Bitcoin is a peer to peer gold
along with his wife Stacy Herbert decided to discuss the recent statement by JPMorgan for the customers of the financial giant. According to Kaiser, one of the most corrupt institutions of our time declares that crypto-currencies...
The developers of Ethereum postponed the decision to integrate the algorithm ProgPoW. What's wrong?
the Developers have decided to postpone the decision to integrate resistant -mining algorithm . About the transfer was announced after the regular conference programmers 1 Feb. Apparently, in the Ethereum Foundation want to wait f...
Bitcoin will be the currency of the Internet. The opinion of the founder of Twitter
the CEO of Twitter and Square Jack Dorsey finally showed up in the podcast Joe Rogan Experience. In his opinion, the Internet will eventually be a separate coin, and most likely it will be . This time Dorsey was generous in epithe...
Even the Bitcoin bulls do not expect a trend reversal. Mike Novogratz of kryptonite
the Legend of wall street with extensive experience in institutional trading, a few years ago, he dedicated himself fully . He was then told, bitcoin has so much potential that was felt in the Internet at the stage of its origin. ...
Mining is dead: how PoS helps you to earn money even in a bear market
After reaching a record rate has been more than 410 days, which means the current bear market was the longest for major cryptocurrencies. Drop digital assets caught many traders by surprise, because they were not ready for the los...
Died the founder of QuadrigaCX. Now the crypto currency exchange is not able to find $ 145 million
After the sudden death of founder Jerry Cotto a crypto currency exchange QuadrigaCX were missing cryptocurrencies to $ 145 million. According to local newspaper the Globe and Mail, the company can't find or access the funds on Dec...
Cusines: Bitcoin has set a new record for the length of the fall
the Current downtrend has officially become the longest in the 10-year history . Recall that the main cryptocurrency has reached a historic high of 19 764 $ 17 Dec 2017. Since the asset now 412 days constantly dropping in price. T...
Deficit — one of the main advantages . According to a former Manager Dan herd, Satoshi Nakamoto himself several times emphasized this trait of the cryptocurrency in their letters to the community. And although Satoshi never used t...
Analyst: next halving will send you the price of Litecoin to the moon
still waiting ? Please note , after cutting the rewards for the block of LTC can also lead to a sharp increase in value. So says the anonymous analyst under the nickname Moon Overlord. According to him, the effect of halving will ...
CEO CoinList: 2019 will be a quiet year for the cryptocurrency, but will open the way to innovation
Last year was rather complicated for cryptocurrency. Basic coin suffered heavy losses – by the end of the year decreased by 74 percent, and has lost 85 percent. In 2019 on kaptarenko is likely to be silence, however, the company w...
Eternal HODL: how Didi Taihuttu, who invested all the money in Bitcoin
would you Give up all your assets for the sake of buying Bitcoin in the hope that someday he will show new highs? Didi, Romaine and their children continue to lead a lifestyle based on faith in the cryptocurrency. Such a scenario ...
Whether Bitcoin is completely anonymous? Expert's answer
Today broke another record — a cryptocurrency for quite a long time did not appear in the news related to the governments of major States. The first coin began to be actively discussed in the media after the events of Silk Road. d...
The first step on the path to the Ethereum 2.0. The team has released the official Serenity pretzels
Team launched its first pre-release of phase 0 in the migration process network version of the Ethereum 2.0. A message appeared on the project. As noted in the publication, this is the first pack of a series of weekly releases tha...
Comments (0)
This article has no comment, be the first!