Biggest fall in bitcoin blamed on the Chinese

This prompted branch officials to meet representatives of a major bitcoin trading platform in China, BTCC.

It stressed bitcoin is not a currency and can not be circulated as a real currency in the market.

As the BBC pointed out, however, bitcoin’s biggest boost came from China, which experienced a 7 percent decrease in the value of its national currency.

The value of Bitcoin has been somewhat volatile since its launch in 2009.

“B$3 itcoin is a healthy reminder that we don’t have to hold on to dollars or [yuan], which is subject to capital controls and loss of purchasing power”.

Despite all the unfortunate events such as the disappearance of $65 million worth of currency from Bitfinex an exchange medium previous August, the value of Bitcoin has shown continuous improvements so far. As the New York Times reported a year ago, a small band of Chinese companies have effectively gained majority control of the currency, and most Bitcoin trading occurs in the country.

Several other events have also had a notable impact on the price of bitcoin.

Bitcoin is considered an anonymous currency because it is possible to send and receive payments without revealing any personal information.

The government may work with bitcoin exchanges to prevent money laundering and possibly even directly limit trading, Qiu said.

Bitcoin made headlines earlier this week when the cryptocurrency value surpassed $1000, its highest valuation since 2013, but Bitcoin traders didn’t enjoy the sudden increase for too long as the price began to fall rapidly.

That abrupt reversal was magnified many times over in a bitcoin market that doesn’t have anything like the same liquidity or transparency as the market for official currencies.

This blockchain is operated by a network of “miners” that monitor and validate transactions.

As noted by The Hacker News, however, the much-maligned digital currency bitcoin managed to rally and post a three-year trading high of more than $1,020 per bitcoin as of January 2. Bitcoin was back above $1,000 on Friday, paring Thursday’s plunge.

The Register notes that the recent rise of Bitcoin may be attributed to the steady devaluation of the Chinese yuan.