Business Insider Explains Decline of Bitcoin – Bitcoints


Published on January 15th, 2017 | by bitcoin


Business Insider Explains Decline of Bitcoin

Such fears have heavily impacted bitcoin’s value, as China accounts for a disproportionate volume of global bitcoin trading.
Here is how events in China are driving down the price of bitcoin:
Perceived government hostility.
The statement also reiterated the PBOC’s stance that bitcoin is not a currency and cannot be traded as such in the markets.
They emphasized that the meetings were only to underscore the importance of bitcoin exchanges continuing to abide by existing relevant regulations.
This suggests that bitcoin may not be immune to the actions of a single country, as we previously thought.


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