Bitcoin Demand Booms Again In China
The outlook for Bitcoin in China has never looked better after three of the countries biggest BTC exchanges started to allow its customers to withdraw the digital currency.
The news that China’s biggest exchanges have started to allow withdraws has helped put much-needed certainty about the digital currency. Earlier in the year the price dipped following news that Chinese investors would not be able to withdraw their Bitcoins which had a big effect on the price. Before this news it had reached record highs but it fell by over 10% once the news was announced.
Things could not be going any better at the moment for cryptocurrency as the news has been very positive in 2017. It may have had a couple of set backs with the US Securities after they rejected two BTC ETFs but other than that it has been great news. In April this year Japan made the announcement that Bitcoin can be accepted as a legal method of payment. Russia has seen its biggest retailer start accepting Bitcoins and last month a group of the leading 56 cryptocurrency companies across 21 counties agree a consensus on the scaling agreement needed which was arranged by the Digital Currency Group. This great success has led to the price of Bitcoin souring once again.
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Markets Insider Bitcoin is back to its old ways after a few quiet sessions. The cryptocurrency trades up 4.1% at $2,407 a coin following news that China’s three largest bitcoin exchanges are allowing customers to withdraw bitcoins from their accounts. The news follows months of uncertainty for customers of […]