“Bitcoin price has no connection with foreign reserve exchange, that’s for sure.”
Bitcoin Bubble Index by Jiang Zhuo’er source: 8btc forum
Bobby Lee, CEO of BTCChina, blames the fiat system:
Wu Gang, CEO of Haobtc, attributes the recent rise to the increasing global demand for bitcoin, which is driven by
In accordance with regulatory requirements, the domestic Bitcoin trading platform must conduct anti-money laundering review, which also applies to all foreign bitcoin exchanges.
He also says that recently there is no increase of foreign registrants and transactions and it is impossible to use Bitcoin to exchange foreign reserve.
“At present, the domestic Bitcoin transactions are still in a gray area, although the operation poses some difficulty and risk to general public, but theoretically it is possible to realize currency exchange bypassing the capital quota and censorship through domestic purchase and sale abroad.”
“If people keep on buying Bitcoin in China and dump it abroad, the price variance between Chinese and foreign Bitcoin exchange will keep on growing. However, the fact is that the price variance is quite stable.”
OTC trade instead of the online exchange.
As per a report by Caixin, a famous economic and political media, several bitcoin exchanges denies the possibility of using bitcoin to bypass the tightening capital control in China. The report attributes the rocketing price of Bitcoin to global demand and the loss of faith to traditional currencies.
The currency inflation and cash-ban have shaken people’s faith in fiats. It has become a trend to convert fiats into digital assets.
Although Bitcoin is treated as commodity in China at the moment, its features like quick transfer, large amount has dwarfed relevant regulations.
The strengthening of regulation on Bitcoin transaction is inevitable.
He also mentions the relatively stable supply of Bitcoin makes it a more stable storage of value.
“The Bitcoin Bubble Index is 2, way below the level back in late 2013.”
What happen around bitcoin right now looks De Javu but the situation has changed . Plenty of mainstream media coverage on the street but the bubble index developed by Jiang Zhuo’er says No.
These exchanges are trying not to draw fire against themselves. However, the efforts may be futile as the market is heating up in China. As pointed out in a report by Shenwanhongyuan Securities on January 3rd:
Star Xu, CEO of OKCoin, warns the potential bubble and refutes the link between FX and Bitcoin.
Lithuania's Central Bank Probes 100 Million Euro ICO
Lithuania's central bank announced last week that it is probing a domestic initial coin offering (ICO) after determining that the token offered counts as a security.
In a Feb. 15 statement, the Lie
Record Retest? ETC Looks Poised on Double-Digit Climb
ETC, the native currency of the ethereum classic blockchain, looks set to re-test record highs, having now formed a base above $30.
As of writing, ETC is changing hands at $37.90, as per data sourc
$850 Million Raised in ICO So Far, Says Telegram
Messaging app provider Telegram says it has raised $850 million in the first part of its controversial initial coin offering (ICO), public records show.
If confirmed, the raise is by far the larges
Bottom Confirmed? Bitcoin at 20-Day High Near $11K
The bitcoin price has rallied 84 percent from recent lows, suggesting a bottom is in place, although a long-term bull revival is still not certain, according to the price charts
Over the weekend, C
Australian Watchdog Received 1,200 Crypto Scam Complaints in 2017
Australia's consumer watchdog has reportedly received over 1,200 complaints about cryptocurrency scams in 2017.
According to the ABC's current affairs program 7.30, data obtained from the Australia
Bitcoin Prices at 20-day High as Bottom Confirmed
Bitcoin price has rallied 84 percent from recent lows, suggesting a bottom is in place, although a long-term bull revival is still not certain, according to the price charts
Over the weekend, CoinD
Bitcoin broke through $11,000 for the first time since January
Bitcoin broke through the $11,000 mark over the weekend for the first time since the end of January as its price continues to slowly rise following a violent sell-off at the start of the month.
Bitcoin Bonus? See What China’s Tech Giants Reward Their Employees
In China, year-end bonuses are usually rewarded to employees before Chinese Lunar New Year (Spring Festival). The long-waited annual largess from tech companies and annual showoff from their employees