Fiat -> Chinese exchanges has been temporarily suspended. The CNY exchanges might disappear for all we know. This is news. And if you haven't noticed already, the news has been getting progressively worse out of China. Who knows what other regulations they might have in store? The market will have to flush out all but the most dedicated Chinese bitcoiners.
Yes but we knew about this grip-tightening for days already.
People act like Bitcoin's future is tied to China. Why? It's simply not true.
The future of bitcoin is not tied to China but China is an important part of the equation.
Right now all those CNY are exiting the market. Too much sudden supply of Chinese coins, not enough western demand.
