[2017-02-09] Bitcoin Price Sinks Below $1,000 as Exchanges Cut Services

[grandFX]

Bitcoin's price has fallen sharply, dropping below $1,000 amid news from China that major exchanges had temporarily cut services.

At press time, prices were down more than 7% after word emerged this morning that two of China’s biggest bitcoin exchanges – Beijing-based OKCoin and Huobi – are freezing bitcoin and litecoin withdrawals for a month following pressure from the People's Bank of China.

You can read more info here: http://www.coindesk.com/bitcoin-price-s ... thdrawals/

[mjglqw]

If only I had extra cash to stock up on more. Feelsbadman

[Rmcdermott927]

I feel like I say this on a weekly basis, do not let what happens in China scare you. The Chinese government is hellbent on destroying Bitcoin.

All of this regulation and bad news is strategically planned. We were about to cross the ATH a month ago and boom.

Then, we hovered steadily above $1000 for a while, and we're making a strong push for $1100 and boom again.


Unfortunately negative press still affects Bitcoin far too heavily. Imagine what happens if the Winklevoss ETF gets denied? Bad things, but don't be surprised.