30 Dec '13, 4pm

That Giant Bitcoin Crash in the Wake of China Restrictions? It Never Happened.

That Giant Bitcoin Crash in the Wake of China Restrictions? It Never Happened.

When news surfaced two weeks ago of a fresh round of restrictions that China was placing on businesses transacting in the bitcoin ecosystem, the value of bitcoin plummeted. The CoinDesk Bitcoin Price Index, for example, showed that bitcoin traded as low as $422 around Dec. 18, when the large Chinese exchange BTC China acknowledged that it wasn’t accepting new deposits in the local currency until it could find a new payment processor that would do business with it. But a funny thing has happened since then: Bitcoin hasn’t experienced an all-out crash. Instead, its value has recovered. A lot. As of this writing, CoinDesk’s index, which takes the average of bitcoin trading values from three global exchanges (not including BTC China), pegs the value of bitcoin at about $755. That’s a 79 percent increase in a little less than two weeks. The digital currency is trading a bit low...

Full article: http://allthingsd.com/20131230/that-giant-bitcoin-crash-i...

Tweets

Here's the answer to why Bitcoin has value.

Here's the answer to why Bitcoin has value.

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China

China

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Don’t feel too bad for us bitcoiners. Forbes has intentionally painted a bleak picture, but the reality is much brighter. ...

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China's Biggest E-Commerce Company Is About To ...

businessinsider.com 08 Jan '14, 10am

BEIJING (Reuters) - China's biggest online marketplace, Alibaba Group Holding Ltd's Taobao, will ban the sale of bitcoins ...

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One bitcoin is worth $700,000 . Or $0 . Or $1,300 . Now that this specific cryptocurrency is mainstream, everyone has an o...