Bitcoin Traders Adopt 'Wait and See' Stance As China Impact Fades

Bitcoin Traders Adopt 'Wait and See' Stance As China Impact Fades

Markets Weekly is a weekly column analyzing price movements in the global blockchain token markets. This edition looks at the week from 14th through 20th January. After a wild start to 2017, bitcoin took it slow this week. This relative calm was punctuated by a handful of sharp fluctuations, which saw the digital currency’s price fall to as little as $810 on 15th January and rise to as much as $914 on 18th January, data reveals. But, despite the calm, there was uncertainty under the surface. According to analysts, the market is still reluctant to make big moves in the wake of continued news from China that has found its central bank more actively engaging with local exchanges. Trader reluctance For now, this is keeping traders on the sidelines. Ryan Rabaglia,...

Experts Are Wary Of Economic Growth Figures Presented by China

Experts Are Wary Of Economic Growth Figures Presented by China

China has released their official economic growth numbers for 2016. As was to be expected, things are not looking great, although the sky is not falling either. With a 6.7% growth throughout 2016, the country falls short of expectations. Moreover, there are questions regarding the growth number, as it seems to reek of tampering. A previous report hinted at how 6.7% growth has been “achieved” for every quarter in 2016, which is an impossibly even number. The world’s largest economy continues to cause a lot of headaches, though. Compared to 2015, the growth has slowed down by 0.2%, which is not a positive development by any means.Then again, the number falls within Beijing’s target range and is still higher than some people had anticipated...

Bitcoin Prices Spike Above $900 But Turbulence Remains

Bitcoin Prices Spike Above $900 But Turbulence Remains

Bitcoin prices passed $900 today, though this feat was diminished by several rallies that ultimately failed to push its value above this benchmark. Overall, the digital currency rose to as much as $904.76, after falling below $880 earlier in the session, climbing above this level amid modest volatility. Later in the session, the price mounted another comeback, hitting a high just above $905, according to the CoinDesk USD Bitcoin Price Index (BPI). At press time, however, the price had dipped again to a value of $894.95. This upward movement represented the latest session of relatively mild price volatility, at least compared to the sharp price fluctuations experienced earlier this month. Most notable, however, about the day’s trading, may have been the lack...

OKCoin Puts an End to Bitcoin Margin Trading, Cites Regulations

OKCoin Puts an End to Bitcoin Margin Trading, Cites Regulations

The Chinese Bitcoin exchanges are making significant changes to their service offering. These changes follow a recent inspection of cryptocurrency platforms carried out by the People’s Bank of China (PBOC). The latest announcement of such a change comes from OKCoin. In its most recent post, the platform has announced the suspension of margin trading service. The platform’s decision follows the requirements stated by the country’s regulators. With the suspension of margin trading and borrowing services, OKPay has also decided not to recover the outstanding loans forcibly. However, it welcomes borrowers to settle the debts voluntarily. Once they pay the debts, users will not be able to apply for any new loans. The regulatory authorities responsible for...

Questions Linger As China's Bitcoin Exchanges Halt Margin Trading

Questions Linger As China's Bitcoin Exchanges Halt Margin Trading

Huobi and OKCoin, two of the world’s largest bitcoin exchange businesses by volume, have formally announced they have halted margin trading services. In statements issued today on the OKCoin’s Chinese-language website and Huobi’s Weibo account, the exchanges confirmed changes rolled out quietly roughly a week ago when customers reported restrictions on lending-based services. Representatives from Huobi told CoinDesk that the exchange stopped its services two days ago, and that it will no longer offer margin trading on its China-facing website or its international alternative, BitYes. They also confirmed that Huobi was asked directly by the People’s Bank of China (PBoC) to stop the services today, but that it had not previously heard from...