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hours and almost 50 percent since September. Chinas crackdown on Bitcoin trading has also revealed divisions in beliefs surrounding the cryptocurrency. The latter will help to buffer Bitcoin exchanges against speculative activity. In recent months, Bitmain has been expanding its business reach, creating partnerships and raising funds from intrigued investors. If and when mining will be outlawed within Chinese territory has yet to be confirmed, but recent indications show that the groundwork for such a move is already taking place. For example, Microsoft, Overstock and Expedia are some big firms that accept Bitcoin. Canadian public utility company Hydro Quebec has been attempting to lure various mining companies to the area, on the grounds of low cost energy supply, and lenient government policies pertaining to crypto mining practices. Suggested articles, nEXT block sofia.0 Fabulous Blockchain After-Party. Update: Since this article was originally published on Thursday morning, Bitcoin has risen by about 20 percent to 3,700. China is a major player in the crypto space, and its influence on the industry cannot be overstated, both due to its citizens high involvement in the field, as well as the sheer number of investors that the country infuses into the market. The Chinese government has a different perspective, however.
Chinese Crackdown, in September of last year, China made a splash in the cryptocurrency space when the country announced that it will ban all ICOs. It's still down 25 percent from its September 1 high. The announcement saw the digital currency crashing on the. The original article follows. The decision left many crypto enthusiasts wondering about the effects on market prices. China had become a major market for Bitcoin, so a government crackdown there can be expected to have a big impact on its price.
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