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Thread: Bitcoin price drops following report that China is going to shut down local exchanges

  1. #1
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    Default Bitcoin price drops following report that China is going to shut down local exchanges

    Another day, another crash and another Chinese ban. This time, a single report from financial news site Caixin is saying that the Chinese government is considering banning cryptocurrency exchanges in China.

    In particular, the report is saying that Chinese citizens won’t be able to use exchanges to buy bitcoins, ethers and more using Chinese yuan, and vice versa.

    Cryptocurrencies aren’t banned per se, just exchanges. But do bitcoins have value in China if you can’t exchange them? That’s the main question and the reason why cryptocurrencies are crashing.
    Navy Chief, every where I go

  2. #2
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    I feel bitcoin is in one of the biggest bubbles we have ever seen! And as bubbles always goes, what comes up fast, goes down twice as hard. Be careful all!

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