They cheered when it dropped from $800 to $500, kept quiet when it went up to $1,300;
Cheered again when it fell back to $900, and remain silent when it broke $2,000;
Go to town again when it dipped under $2,000 but ignored when it reached $5,000;
Now they are sharing this piece of “news” as celebration…
So what next?
Those are people who feel they have missed the boat and now watching the entire drama with sour grapes.
They so conveniently pretend the overall surge from $1,000 early this year to $5,000 never happened.
You don’t need vision or be a rocket scientist to figure out bitcoin will keep growing.
Simple mathematics, limited supply with unlimited demand, what will happen?
Bitcoin is sinking on a report China is going to shut down exchanges
Bitcoin is down 5.68% at $4,376 a coin following a Caixin report suggesting the China is going to shut down domestic exchanges.
Two of China’s largest bitcoin exchanges, Okcoin and Huobi, say they haven’t received any such notices, according to a tweet from Bloomberg’s Lulu Yilun Chen.
On Monday, Beijing announced it was banning initial coin offerings, a cryptocurrency-based fundraising method. In February, China blocked customers from withdrawing their bitcoin. They were eventually allowed to resume withdrawals in June.
The news is weighing on other cryptocurrencies as well. Ethereum is is down 8.74% at $306 a token and bitcoin cash is weaker by 9.28% at $607 a coin.
Bitcoin is up 355% in 2017.
Read more : Bitcoin is sinking on a report China is going to shut down exchanges