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China may ban Bitcoin trading, but the market doesn’t seem to care

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Late last week, a report from Caixin shook the Bitcoin world. According to the state-owned media outlet, China plans to ban all cryptocurrency exchanges. The report was followed by a similar one from The Wall Street Journal, which cited anonymous sources familiar with the matter. 

And, initially, the price of Bitcoin plummeted, falling from roughly $4,600 to $4,000. But three days later, the price of Bitcoin (and most other major cryptocurrencies including Ethereum) is rising again. 

So what's happening? Was the report false? The answer is unclear at this point, but the market either no longer believes the report, or it simply doesn't care.  Read more...

More about China, Bitcoin, Trading, Crypto, and Cryptocurrencies
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