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Do Not Mention Devaluation, China Tells Its Bitcoin Exchanges

CryptoCoins News, 1/1/0001 12:00 AM PST

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Bitcoin in 2016: The Year Politics Challenged Algorithmic, Apolitical Money

CoinDesk, 1/1/0001 12:00 AM PST

Bitcoin Core developer Eric Lombrozo recaps a fraught year in bitcoin development, one that he believes could give way to a less contentious 2017.

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Documentary ‘Banking on Bitcoin’ to Hit Select Theatres

CryptoCoins News, 1/1/0001 12:00 AM PST

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The Only 10 Bitcoin Stock Photos You'll Ever See

CoinDesk, 1/1/0001 12:00 AM PST

CoinDesk explains the secret meaning behind the only 10 bitcoin images you'll ever see. Be warned, the world may never look the same again.

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OpenBazaar Now Accepts Altcoins with Shapeshift Integration

CryptoCoins News, 1/1/0001 12:00 AM PST

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Bitcoin is plunging again

Business Insider, 1/1/0001 12:00 AM PST

Bitcoin was still falling against the dollar on Saturday after losing more than a fifth of its value in trade Thursday.

Bitcoin was down more than 7% to $832 at 9:21 a.m. GMT (4:21 a.m. ET), according to Markets Insider. That's down from over $1,100 earlier in the week.

Here's the chart:

BTC

Bitcoin surged in the weeks running up to Christmas, battled volatility in the run-up to New Year and first few days of 2017, before tanking Thursday.

Some commentators have suggested that the rise was caused by Chinese investors looking to move their money out of China ahead of a rumoured further devaluation of the renminbi.

This theory is backed up by moves in the renminbi Thursday that coincided with bitcoin's plunge. The renminbi rallied 2.6% against the dollar, posting its biggest two-day gains ever.

China's central bank on Friday also warned investors to exercise caution when investing in virtual currencies such as bitcoin and met with the representatives of a major bitcoin trading platform in China, BTCC, according to Reuters. That appears to have shaken confidence further.

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NOW WATCH: The US is $19.9 trillion in debt — here are the countries we owe the most

China to Restrict Bitcoin Marketing, But Blockchain Firms Unaffected

CoinDesk, 1/1/0001 12:00 AM PST

Just hours after it was first revealed that the People's Bank of China (PBoC) had held closed-door meetings with domestic bitcoin exchanges, new details are emerging about the conversations. According to a new report by Caixin, the PBoC sought to restrict how the exchanges could seek to acquire potential new users, with the central bank […]

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2013 to 2017: Comparing Bitcoin's Biggest Price Rallies

CoinDesk, 1/1/0001 12:00 AM PST

A look at the bitcoin price rallies from 2013 and the past few weeks.

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Bitcoin Rally Is Just the Beginning

CryptoCoins News, 1/1/0001 12:00 AM PST

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