Again CoinDesk doing their best at journalism while promoting Lee and the fellas, as well as Ribbit Capital and Pantera...Aye ya.
So if the BTC price decline follows false report of bitcoin ban in china, shouldn't the price go back up considering the report is false? I am going to suggest to you that there is a more complicated reason the price is falling and will continue to do so to a low of $470-$510, and has NOTHING to do with China.
Bitcoin trading in China already has no value. Coins being stored on a server that is controlled by the Chinese Government is not what I would call valuable or important in the first place. I consider all China BTC trading worth $0. You will be able to value much easier that way.
When the authorities figure out that everyone and their brother is sending BTC out of China to their relatives here it will be all over very quickly. $40,000 USD yearly limits are being blown right out hehe. *** One click *** Over.
