[2017-03-07] Bitcoin plunges sharply and suddenly

LLec

hero member

Activity: 798

Merit: 501

Quote from: Kprawn on March 07, 2017, 12:03:09 PM

The PBOC will not stop, until Bitcoin has been sufficiently stalled in China. You will soon see a government coin or a Blockchain based technology

being issued by the Chinese government..... and they have to push down Bitcoin to pave the way for their own GovCoin. They are currently hiding

this reason behind supposed "customer protection" regulations.... but the true reasons are much more sinister. Angry

Isn't that what all the talk surrounding BU coin is about?
This is certainly a confusing time to be in bitcoin for the next few days to come.

Kprawn

legendary

Activity: 1904

Merit: 1074

The PBOC will not stop, until Bitcoin has been sufficiently stalled in China. You will soon see a government coin or a Blockchain based technology

being issued by the Chinese government..... and they have to push down Bitcoin to pave the way for their own GovCoin. They are currently hiding

this reason behind supposed "customer protection" regulations.... but the true reasons are much more sinister. Angry

Kemarit

legendary

Activity: 3080

Merit: 1353

Bitcoin plunged by more than $100 in a matter of minutes on Tuesday morning. The cryptocurrency was down about 1.5% at $1,260 a coin just after 6 a.m. ET before tumbling below $1,160 within 30 minutes. As of 7:12 a.m. ET it was down 5%, or $62, near $1,218 a coin.

While no headlines can be directly tied to the plunge, about two hours earlier a Bloomberg headline cited a People's Bank of China official as suggesting the recent bitcoin regulation wasn't temporary.

The PBOC recently announced it was cracking down on bitcoin trading, and China's largest bitcoin exchanges have since introduced a flat 0.2% fee on each transaction and announced a blockage of withdrawals.

Tuesday's sell-off could also be tied to nervousness over a coming Securities and Exchange Commission ruling. The SEC is expected to issue a ruling on whether it will approve at least one of the three proposed bitcoin-focused exchange-traded funds by a Saturday deadline.

http://www.businessinsider.com/bitcoin-price-plunges-suddenly-and-sharply-march-8-2017-2017-3

Topic: [2017-03-07] Bitcoin plunges sharply and suddenly (Read 402 times)