So we’re doing that again…the Bitcoin funeral thing? Really?
Bitcoin continued its slide this morning after media in China reported that regulators were closing in on shutting down exchanges. This makes perfect sense after the attack on ICOs, this is China we’re talking about after all.
Bloomberg reported on Monday that China planned to ban trading of bitcoin and other virtual currencies on its exchanges. According to Bloomberg’s Lulu Yilun Chen, China Business News reported that the city of Shanghai has essentially halted bitcoin exchanges.
It’s been a bad couple of weeks now for Bitcoin. But honestly, haven’t we seen this before? We’ve seen it at $100, at $500, at a $1,000. So now they’re calling for the death of Bitcoin….at $3,000, $4,000? Makes me smile and dig in deeper.
Here’s what the media was saying a month ago, when Bitcoin was hitting all-time highs… I tend to enjoy reading what they’re write now more, as I add to my stack.
1/ After carefully considering the announcement published by Chinese regulators on 09/04, BTCChina Exchange will stop all trading on 09/30.
— BTCC (@YourBTCC) September 14, 2017