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Chinese Bank Rumors Cause Panic Sale and BTC Price is Going Down

27 Mar


Today the Bitcoin exchange rate started going down again and the reason seems to be some new rumors that the Chinese national bank is going to prohibit the trading of Bitcoins and other cryptos by not allowing banks to service the payments for crypto currency exchanges by ordering all Chinese banks and payment processors to close accounts of Chinese Bitcoin exchanges by 15th or April. It seems that this is still just a rumor as there is no official information, though some news services in China are apparently reporting the news and the result is as expected – panic sale. Some of the big Chinese crypto exchanges have reported that they are not aware of any official announcement and it is all just a rumor, but the information in question could just be sent to banks directly, though at the end of last year the central bank has issued official warning about trading of Bitcoins and this has caused panic and significant drop in the price of BTC that had previously hit a record high price. It seems that soon enough we’ll see if this time it was all just a hoax if the price starts to recover back to the normal level or we’ll get to see an official announcement…

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2 Responses to Chinese Bank Rumors Cause Panic Sale and BTC Price is Going Down

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March 27th, 2014 at 20:12

Man, Fuck the Chinese. Everytime some official over there sneezes, BTC drops 20% or more. I really wish USD exchanges would pickup LTC.


March 28th, 2014 at 04:42

China is a new country in terms of capitalism! Communism + Capitalism = total chaos!

China loves Crypto-Currency but the fucking government dont like it!

Damn china even Tittiescoin being mined in chinks! heheheheheh

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