Chinese Bitcoin Exchange BTCC halts trading on September 30

Bad news from China again. The 3rd largest Bitcoin exchange in China by volume (6th worldwide) stops trading on September 30.

BTCC tweeted today:

After carefully considering the announcement published by Chinese regulators on 09/04, BTCChina Exchange will stop all trading on 09/30.

Other Bitcoin exchanges in China have not issued any announcements... Not yet.

This is not 1st time China has "banned" Bitcoin and there's still no official announcement about a possible ban on Bitcoin by the Chinese regulators. If this ever happens.

Below is the market's response...
A beautiful day if you have been waiting to buy cheap cryptos ;-)

24 Hour Change

7 Day Change

Market Capitalization

Feel free to use and share my charts, but please mention me as the author.

Latest Crypto News - September 14, 2017

Bitcoin Exchange BTCC to Halt Trading as Regulatory Storm Brews in China

This past week there’s been many rumors that Chinese cryptocurrency trading platforms would be shutting down shortly due to regulatory concerns. Now the China-based exchange BTCC has announced it will be shutting down operations on September 30.
_{Read more: bitcoin.com}

Bitcoin Price Drops Below $3,500, But Is Relief Rally In Sight?

The bitcoin-US dollar exchange (BTC/USD) rate fell to a fresh four-week low of $3,413 this morning following reports that Shanghai-based bitcoin exchange BTCC will shut down its domestic trading operations effective September 30.
_{Read more: coindesk.com}

Bitcoin is dropping right now after a big Chinese exchange said it is closing

Bitcoin prices fell about 9 percent on Thursday after one of the biggest exchanges in China said it will shut down its operation.
_{Read more: cnbc.com}

Think Bitcoin Is a Bubble? 5 Ways to Short It

So how exactly do you short bitcoin? It's not easy due to a lack of financial products (relative to other assets) and because some tactics are restricted to professional investors. That said, here are five approaches for bears to bet against the world's most popular digital currency.
_{Read more: fortune.com}

Ethereum Drops Below $250 as Price Hits Inflection Point

The ether-US dollar exchange rate fell to a six-week low below $250 today as the mood in the markets soured and fears of a broader exchange crackdown in China were seemingly confirmed.
_{Read more: coindesk.com}

Bitcoin price bubble: Is digital currency about to crash and burst?

The price of bitcoin has rocketed by more than 700 per cent in less than 12 months, prompting a number of high-profile critics to label the cryptocurrency as a bubble - and even a scam.
_{Read more: express.co.uk}

Namibian Central Bank: Bitcoin Purchases Illegal Under Law

Cryptocurrency exchanges are not allowed in Namibia under a decades-old law, and merchants in the African country may not accept them as payment for goods and services, the nation's central bank has said.
_{Read more: coindesk.com}

Crypto Is Here to Stay (Whatever Jamie Dimon Might Say)

Jamie Dimon made news again on Tuesday when he savaged bitcoin specifically and cryptocurrency generally, calling it a fad even worse than the tulip craze, and promising to fire any JPMorgan trader who dealt in bitcoin. But that couldn't be farther from the case. Rather, Dimon's comments encapsulate an outdated mentality whose very existence explains why there's a demand and need for cryptocurrency in the first place.
_{Read more: coindesk.com}

Central Bank of Finland: Bitcoin Can’t and Doesn’t Need to be Regulated

In a research discussion paper entitled “Monopoly without a monopolist: an economic analysis of the bitcoin payment system” the central bank of Finland solidified its stance towards bitcoin and its optimism in regard to the emergence of a truly decentralized financial system.
_{Read more: coinjournal.net}

_{¯\___(ツ)____/¯ Don't miss out on my next post! Follow me @penguinpablo}