Crypto prices drop after SEC postpones Bitcoin ETF decision

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Bitcoin is going down again.
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The prices of Bitcoin, Ethereum and all other major cryptocurrencies are sharply down Wednesday following an announcement by the U.S. Security and Exchange Commission (SEC) that it will postpone the decision on approving what would be the first-ever Bitcoin ETF. 

The SEC, which recently rejected a proposal by Tyler and Cameron Winklevoss to launch a Bitcoin ETF, now has to approve or disprove another similar proposal, issued by the VanEck SolidX Bitcoin Trust. But the regulator has extended the deadline in which it must reach a decision to September 30, 2018. 

A document posted by the SEC Tuesday says it has received more than 1,300 comments on this proposal; the regulator found it “appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change.”

In July, the SEC extended the deadline for deciding on Direxion’s Bitcoin ETF proposal to September 21, with similar reasoning. 

These delays aren’t overly negative for Bitcoin; in fact, given that one SEC commissioner dissented from the regulator’s decision to reject the Winklevoss brothers’ proposal for a Bitcoin ETF, the fact that the SEC needs more time to make a decision on another proposal might be a positive sign for Bitcoin proponents. 

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However, it appears that anything resembling bad news can send the crypto market plummeting these days. Shortly following the announcement, the price of Bitcoin dropped by more than 6% and is currently trading at $6,580. Ethereum, the second largest cryptocurrency by market cap, fared even worse, having dropped by more than 8% at one point. It’s currently trading at $375, its lowest level since April. Ripple, Bitcoin Cash and EOS — the third, fourth and fifth largest coins by market cap — have all dropped more than ten percent in the past 24 hours. 

The market capitalization of the entire cryptocurrency market is also sharply down at the time of writing. At $230 billion, it’s at its lowest point since November 2017. 

Despite short periods of optimism here and there, the prices of Bitcoin, Ethereum and most other major cryptocurrencies have been on the decline since their January highs, when the total crypto market cap was over $800 billion. The launch of a Bitcoin ETF would likely be a big boost for Bitcoin and other coins, as it would open the doors to institutional investors to invest in the crypto market. 

Disclosure: The author of this text owns, or has recently owned, a number of cryptocurrencies, including BTC and ETH.

Read more: https://mashable.com/2018/08/08/bitcoin-etf-postponed-bitcoin-ethereum-price/

The SEC rejects the proposal for first Bitcoin ETF again, but there’s a silver lining

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The SEC has rejected a second proposal to list and trade shares of the Winklevoss Bitcoin Trust on the Bats BZX Exchange, which would essentially be the launch of the first Bitcoin ETF. Cameron and Tyler Winklevoss, founders of the Gemini cryptocurrency exchange and big proponents of Bitcoin, have already been rejected in March 2017

The SEC dismissed the amended proposal on Thursday with a 3 to 1 vote, disproving BZX’s claim that Bitcoin markets are “uniquely resistant to manipulation,” and questioning whether BZX can do enough to deter fraud and manipulation on the market. 

But this time there’s a but. 

Following the SEC’s decision, which sharply drove the price of Bitcoin down from $8,287 to about $7,900, the SEC published Commissioner Hester Peirce’s dissent from the SEC’s decision. 

“Contrary to the Commission’s determination, I believe that the proposed rule change satisfies the statutory standard and that we should permit BZX to list and trade this bitcoin-based exchange-traded product (“ETP”),” Peirce wrote. 

She argues, essentially, that this is a case of catch 22: the Bitcoin market has its problems but these problems would be “mitigated by institutionalizing the market”. In other words, allowing the first Bitcoin ETF to launch would improve the Bitcoin market precisely in the way the SEC would want it to. 

“The disapproval order discourages new institutional participants from entering this market. Worse, it suggests that approval for bitcoin ETPs will come only when bitcoin spot and derivatives markets have matured substantially, yet, at the same time, contributes to further delay in their maturation, as potential institutional investors may reasonably conclude that the Commission will continue to repress market forces for the foreseeable future,” Peirce wrote. 

On broader terms, Peirce also believes that “the disapproval order demonstrates a skeptical view of innovation, which may have an adverse effect on investor protection, efficiency, competition, and capital formation well beyond this particular product.”

Peirce’s dissent is interesting, as it shows how the SEC might be swayed to change its decision on cases like this in the future. Cameron and Tyler Winklevoss’ bid was rejected, but there’s another active application for a Bitcoin ETF, coming from the VanEcx SolidX Bitcoin Trust. The SEC did not comment on that application at this time, and it still has until August 16 to do so according to CNBC

Read more: https://mashable.com/2018/07/27/bitcoin-etf-rejected/

Bitcoin bleeds following yet another exchange hack

We're going down again.
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The prices of Bitcoin, Ethereum, and all other major cryptocurrencies have experienced big drops in the last 24 hours, following the news that South Korean cryptocurrency exchange Coinrail has been hacked. 

In a statement on its website Monday, Coinrail said that hackers stole up to 30% of the coins from its storage. 

According to Coinrail, the hackers struck on June 10 and made away with a number of different cryptocoins, including the recently launched Pundi X (NPXS), which makes roughly two thirds of Coinrail’s trading volume. Korea’s Yonhap estimated that a total of 40 billion won ($37.2 million) of coins went missing. 

Coinrail is a fairly small exchange with roughly $2.5 million in daily volume according to CoinMarketCap. “(Coinrail) is a minor player in the market and I can see how such small exchanges with lower standards on security level can be exposed to more risks,” Reuters quoted Kim Jin-Hwa, a representative at Korea Blockchain Industry Association, as saying. Coinrail said it is cooperating with the police investigating the hack and said it will release an announcement with more details as soon as possible. 

The cryptocurrency markets tumbled sharply following the news, with Bitcoin dropping from $7,240 to $6,752 in less than two hours, with the current price being $6,794. The second largest cryptocurrency by market cap, Ethereum, dropped from $570 to $511 before recovering slightly to $533. 

Other major cryptocurrencies experienced a similar drop. EOS, the fifth largest currency by market cap, had it worst of all: It plummeted 15% in the last 24 hours, and is currently trading at $11.2. EOS’s price drop is notable as this cryptocurrency is currently in the process of launching its main blockchain network (also known as mainnet) after having raised a reported $4 billion in a year-long initial coin offering (ICO), dwarfing all similar crowdfunding efforts. 

The Coinrail theft is the fourth major cryptocurrency exchange hack this year. In January, $400 million worth of cryptocurrency was stolen from Japanese exchange Coincheck, and in February, $200 million worth of cryptocurrency went missing from Italian cryptocurrency exchange Bitgrail. In April, cryptocurrency exchange Coinsecure said some $3.3 million worth of Bitcoin were stolen from its wallet. 

The total market cap of all cryptocurrencies has descended below $300 billion for the first time since early April; it currently stands at $297 billion. 

Read more: https://mashable.com/2018/06/11/coinrail-exchange-hack/

Coinbase makes it easier for hedge funds to trade Bitcoin

Coinbase's new trading platform for institutional investors: Coinbase Prime.
Image: Coinbase

Cryptocurrency is going legit in a big way.

Leading U.S.-based cryptocurrency exchange Coinbase is going after institutional investors with four new major products, all of which cater to the needs of professionals and big institutions, making it easier for them to trade cryptocurrencies such as Bitcoin, Ethereum and Ripple. 

The new products address many of the issues that big investors such as hedge funds face when trying to enter the cryptocurrency market, providing liquidity, safe storage of assets, quality support and advanced products such as OTC (over-the-counter) and margin trading.

If institutional investors take the bait — and judging by announcements from banking giants such as Goldman Sachs, they will — Coinbase’s new tools will clear the path for an even larger outpouring of money into cryptocurrencies.

Coinbase Custody, launched in partnership with “an SEC-regulated broker-dealer,” provides safe storage of cryptoassets, paired with third-party auditing. Coinbase claims it’ll draw on its experience of storing more than $20 billion in cryptocurrency to make this the “most secure crypto storage solution available.”

Coinbase Prime is a platform with all the bells and whistles institutional investors are used to, and by the end of the year it should have advanced tools such as margin trading, algorithmic orders and multi-user permissions. Note that individual investors should use Coinbase’s trading platform GDAX; Prime is for institutions and professionals only.

Coinbase Markets is a centralized liquidity pool for all Coinbase products, which, besides Coinbase’s digital wallet and exchange, include trading platform GDAX and now Prime. This product will be headquartered in Coinbase’s new office in Chicago. 

Coinbase claims that more than 100 hedge funds announced plans to trade/invest in cryptocurrency in the last few months alone. 

Finally, the Coinbase Institutional Coverage Group will work from Coinbase’s New York City office to provide support to clients including research and market operations.

This is a major upgrade to Coinbase’s product lineup, which has so far been mostly oriented toward individual investors. “There is clear demand from institutional clients and financial services professionals for more specific solutions with regard to cryptocurrencies that address their sophisticated needs,” Adam White, Vice President and General Manager of Coinbase Institutional, said in a statement. Coinbase claims that more than 100 hedge funds announced plans to trade/invest in cryptocurrency in the last few months alone. 

Coinbase was reportedly adding more than 100,000 users per day in late 2017, when the cryptocurrency craze — and Bitcoin price levels — was going off the charts. The company reportedly had more than $1 billion in revenue in 2017, and valued itself at $8 billion in April 2018. 

Disclosure: The author of this text owns, or has recently owned, a number of cryptocurrencies, including BTC and ETH. 

Read more: https://mashable.com/2018/05/15/coinbase-institutional-investors/

Justice Department is reportedly looking into Bitcoin price manipulation

Is someone artificially pushing the price of Bitcoin and Ethereum up or down?
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Internet forums are full of theories on who’s pushing the price of Bitcoin this or that way, and they range from somewhat plausible to completely ludicrous. But could some of them be right?

The U.S. Justice Department has launched a criminal probe into whether the price of Bitcoin and other cryptocurrencies are being manipulated by traders, Bloomberg reported Thursday. 

This manipulation can include practices such as spoofing (placing large numbers of buy or sell orders with no intent to fill them) and wash trading (simultaneously buying and selling the same asset to create fake volume on the market). You will rarely see these illegal methods used in established stock markets, but some may be using them to profit in the largely unregulated world of cryptocurrencies, teeming with millions of inexperienced traders. 

According to the report, the Justice Department is working with CFTC officials on the investigation, which is said to be in its early stages. The investigation is reportedly focusing on Bitcoin and Ethereum, the two largest cryptocurrencies by market capitalization. 

A recent analysis by investor Sylvain Ribes, for example, has shown that a large amount of volume seen on some popular cryptocurrency exchanges is likely fake and exists only due to practices such as wash trading. And a recent paper, published in the Journal of Monetary Economics, concluded that suspicious trading activity may have been responsible for Bitcoin’s rapid jump in price from $150 to $1,000 in late 2013. 

The price of Bitcoin has been on the decline since May 5, when it briefly hit $9,950, and is currently at $7,543. The market cap of the world’s most popular cryptocurrency stands at $128.6 billion. Ethereum is following a similar trajectory. It’s currently trading at $586 with a market cap of $58.4 billion. 

Disclosure: The author of this text owns, or has recently owned, a number of cryptocurrencies, including BTC and ETH. 

Read more: https://mashable.com/2018/05/24/justice-department-probe-bitcoin/

Ethereum and Ripple reach new all-time highs while Bitcoin stagnates

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It’s another green day in the world of cryptocurrencies, with all of the ten largest coins rising significantly in value in the last 24 hours. However, this time it’s not Bitcoin that’s leading the charge. 

Yes, Bitcoin’s price rose to $14,043 — a 4.99% increase in the last 24 hours — bringing the most popular cryptocurrency’s market cap to $235.6 billion. But it’s still a long way from Bitcoin’s all time high of $19,962 in December. 

But all of the other major cryptocoins rose far more than Bitcoin. Ripple, the second-largest cryptocurrency by market cap, rose 11.48% to a new record of $2.47. Ethereum, which is in third place, rose 16.97%, to $889.77 — another all-time high. And Stellar, which is currently in eighth place by market cap, grew a whopping 36.03%, which brought its price to a record high of $665. 

All in all, the market cap of the entire cryptospace is currently at a record $654.2 billion, an impressive feat considering Bitcoin has lost thirty percent of its value in the last couple of weeks. 

There’s no significant news to which we can attribute this recent growth. Ripple, which had recently overtaken Ethereum as the second-largest cryptocoin, has been growing like a weed for a while now without any major developments. As for Ethereum, it likely benefitted from the launch of a test network for Casper, a significant upgrade for Ethereum which is currently in alpha stage. 

While it historically wasn’t very smart to bet against Bitcoin, it looks like it’s time for all the other cryptocurrencies to shine. Bitcoin dominance as measured by CoinMarketCap — the percentage of Bitcoin’s market cap compared to the market cap of all other cryptocoins — is at a historic low of 36%.

It’s possible that the hoards of investors who recently entered the crypto space (popular exchange Coinbase has grown its user base by millions in the last couple of months) are now diversifying into coins that aren’t Bitcoin. It’s also possible that Bitcoin’s largely stagnant development — in contrast to the extremely busy roadmaps from most of its competitors — is driving investors away. On the flip side, it’s not unimaginable that Bitcoin is just taking a little break before it explodes again.

Read more: http://mashable.com/2018/01/02/ripple-ethereum-records/

Ethereum takes cue from Bitcoin, starts growing like crazy

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Ethereum, the second largest cryptocurrency by market cap (behind Bitcoin), is currently trading at $707, a 20% increase in the last 24 hours. 

This is a new record for Ethereum, which has kept pace with Bitcoin for the better part of the year but started falling behind sometime in the summer. Bitcoin’s price grew tremendously in the second part of the year. One bitcoin is currently worth $17,176. 

Ethereum’s market capitalization, according to CoinMarketCap, is currently $66.5 billion. 

Besides being a blockchain-based cryptocurrency, Ethereum has fairly little to do with Bitcoin. While Bitcoin is primarily a payment system, Ethereum is a platform for decentralized apps running on its blockchain. 

Ethereum’s platform ushered in a completely new breed of startups that raised funds via initial coin offering or ICO events. Participants exchange Ethereum for new digital tokens created on the Ethereum blockchain. ICOs raised more than $1.24 billion in the third quarter of 2017, according to CoinDesk

Most recently, Ethereum has been in the news due to a popular game called CryptoKitties, which lets users collect and trade digital kittens stored on Ethereum’s blockchain. 

Looking at price alone, Ethereum’s growth has been even more impressive than Bitcoin’s this year. The cryptocurrency was trading for about $8.3 in January; its current price represents a 8,500% increase. 

Ethereum might be rising due to recent comments by SEC chairman Jay Clayton, who published a statement on Monday warning about the dangers of ICOs, which are largely unregulated. He also said that some digital tokens traded in ICOs aren’t securities and do not fall under SEC’s jurisdiction. 

Numerous other cryptocurrencies continue yesterday’s rally, most notably, the banking-oriented Ripple, which grew by 73% in the last 24 hours and now has a market cap of $18 billion. 

Disclosure: The author of this text owns, or has recently owned, a number of cryptocurrencies, including BTC and ETH, as well as a swiftly rising number of digital kittens.

Read more: http://mashable.com/2017/12/13/ethereum-700/

Bitcoin transaction fees are crazy high right now. Here’s what you can do about it.

A Bitcoin logo design is seen inside a sushi dining establishment in main Tokyo, Japan. That sushi may cost you a substantial amount in deal costs.
Image: FRANCK ROBICHON/EPA/REX/ Shutterstock

Four dollars. That’s just how much it ‘d cost me to send out 0.01 bitcoins, or about $42, from one Bitcoin address to another today.

And this is in fact rather inexpensive compared with a couple of days back, when deal charges were even greater, making Bitcoin hardly functional for microtransactions. And low-cost deals, specifically for percentages of BTC, are allegedly among Bitcoin’s greatest benefits.

The deal costs are raving due to a number of elements. One is the size of the block in Bitcoin’s blockchain, which is restricting the variety of deals that can go through at any offered time. Bitcoin’s network is powered by business, individuals and miners who utilize an incredible quantity of calculating power to produce brand-new bitcoins. When there’s a lot of deals to procedure– which presently takes place really typically– miners will focus on deals that pay a greater charge.

The circumstance enhanced with the current SegWit upgrade of the Bitcoin software application, however it will take a while– months or weeks– prior to users begin seeing advantages of SegWit.

Another factor is Bitcoin Cash, a contending cryptocurrency that divided off from Bitcoin on August 1. Considering that the 2 cryptocurrencies are comparable, it’s basic for miners to change from mining Bitcoin to Bitcoin Cash. And for factors described here , often it’s more successful to mine Bitcoin Cash than Bitcoin. Whenever miners begin changing to Bitcoin Cash, Bitcoin’s network ends up being slower, and deal charges increase; we’ve seen this swing take place a few times prior to and it’s most likely to keep taking place for a while.

This is bad for Bitcoin. A couple of dollars (and even a couple of lots dollars) per deal isn’t really an offer breaker for financiers, however for somebody who wishes to utilize Bitcoin as payment– which is type of the point of Bitcoin in the very first location– that’s far too costly.

The excellent news is that the costs are most likely to obtain much better. The problem is that it will not take place soon. SegWit has actually paved the method for an additional upgrade called the Lightning Network , which ought to significantly minimize costs, however the software application, or even its requirements, aren’t all set. And in November, Bitcoin is anticipated to be updated once again with the SegWit2x proposition, which ought to increase the block size in Bitcoin’s blockchain from 1MB to 2MB. This will decrease pressure on the network and make deal costs lower, however changing to SegWit2x needs a so-called tough fork, indicating that Bitcoin is when again splitting into 2, which might bring brand-new difficulty.

Yes, you can pay smaller sized costs and get away with it

Luckily, Bitcoin users aren’t entirely without alternatives today. Something you can do is wait up until the network is less stretched (during the night, throughout the weekend), which is when deal costs will decrease.

You can likewise inspect this service to see which deal costs are presently the most financial for you. At the time of this writing, a Bitcoin cost of 200 satoshis per byte will suffice for your deal to go through in about 30 minutes (Bitcoin deal charges are revealed in satoshis, which is one hundred millionth of a Bitcoin, per byte size of the deal, which is usually a little over 200 bytes). Want that cost estimators aren’t ideal; an alternative service that reveals you the presently optimum cost is this one .

Paying a cost that’s too expensive is unneeded, as it does not bring any fringe benefit. Paying too little a cost indicates your deal will not go through quick, or at all.

This details will not assist you much if you utilize a wallet that does not let you alter deal charges, so possibly it’s time to change to a various wallet. A mobile Bitcoin wallet called Mycelium provides numerous possibilities for Bitcoin deal costs: low-priority, financial, typical concern and high concern. Your deal may take longer to go through however it will be more affordable if you pick the low-priority charge. Alternatively, a high concern deal will nearly undoubtedly go through rapidly however it will be pricey. Now, Mycelium is using me 339 satoshi/byte as a financial deal charge rate, which is still a little pricey, however much better than the “typical” cost of 419 satoshi/byte.

This is too costly.

Image: Stan Schroeder/Mashable

For much more control, you might experiment with the Electrum wallet , which lets you set any charge for your deals, though you have to allow the choice by hand in the settings. Beware, though: If you select too little a charge, your deal may permanently remain in Bitcoin’s stockpile. Coinomi is another (mobile-only) wallet which lets you personalize your deal costs.

There are other things you might do to make deal costs lower, though it needs a somewhat greater level of understanding. If you’ve gotten a great deal of little deals to a Bitcoin address, then send out bitcoins from that address, the deal will be bigger (in bytes) and hence more pricey. If you make it possible for the “Coins” tab in the desktop variation of Electrum you can decrease the variety of inputs for your deal, which will make it more affordable.

If you’re moving bitcoins from an exchange and not a wallet, you likely will not have the ability to set a charge, and numerous exchanges have extremely high charges established. Exchanges mainly do not do that since they’re wicked; they do it due to the fact that they wish to ensure the deal went through, otherwise they’ll have to handle assistance tickets. At this point there’s little you can do about this besides discover an exchange that is a bit more affordable with this regard than others. Want that, on top of deal charges, exchanges will likely charge their own extra charges, so you must concentrate on the overall expenses.

To summarize: Bitcoin costs are presently really pricey, however this will likely improve in a couple of months. Even right now, by picking the ideal wallet and making sure you utilize the optimum cost, you’ll do a lot much better than simply paying whichever charge you’re used.

The author of this text want to thank Luka Zubovi for his corrections and ideas.

Disclosure: The author of this text owns, or has actually just recently owned, a variety of cryptocurrencies, consisting of BTC and ETH.

Read more: http://mashable.com/2017/08/28/bitcoin-transaction-fees/

China could ban Bitcoin exchanges, but the market is unfazed

Image: Shutterstock/Wit Olszewski

Late recently, a report from Caixin shook the Bitcoin world. Inning accordance with the state-owned media outlet, China prepares to prohibit all cryptocurrency exchanges . The report was followed by a comparable one from The Wall Street Journal, which mentioned confidential sources knowledgeable about the matter.

And, at first, the cost of Bitcoin plunged, falling from approximately $4,600 to $4,000. 3 days later on, the rate of Bitcoin (and most other significant cryptocurrencies consisting of Ethereum) is increasing once again.

So exactly what’s occurring? Was the report incorrect? The response is uncertain at this moment, however the marketplace either not thinks the report, or it merely does not care.

Make no error– China certainly can pull such a relocation. The nation secured down hard on Bitcoin a number of times in the cryptocurrency’s history. And individuals’s Bank of China just recently prohibited cryptocurrency ICOs ( Initial Coin Offerings , or token sales) in the nation.

The thinking behind China’s actions to Bitcoin is intricate, however is primarily owned by the reality that cryptocurrencies are difficult to manage and can be utilized to move cash out of the nation, which does not agree with China’s authorities.

Banning all crypto trading on exchanges is a much more severe relocation than the ICO restriction. Numerous of the world’s biggest cryptocurrency exchanges live in China, and the nation is neck and neck with the United States in regards to Bitcoin trading market share.

In other words, Bitcoin must be dropping. Rather, it’s increasing progressively and sits at $4,320 at the time of composing, indicating that the marketplace isn’t really extremely worried about the restriction.

There are numerous signs that Caixin‘s report on China prohibiting all crypto exchanges may be incorrect or just partly real.

First, although a number of days have actually passed given that the initial report, there has actually been no main notification on the matter from individuals’s Bank of China. Second, 3 of the biggest exchanges in China– OKCoin , BTC China and Huobi– stated on Monday that they have not heard anything about a restriction from the nation’s regulators, a minimum of not formally.

And Bloomberg composed on Monday that over the counter deals (off-exchange trading) would not be prohibited, indicating trading crypto would still be possible for whales (casual name for entities that own huge quantities of crypto).

While it’s still extremely possible that China will, certainly, restriction crypto trading, it might just be a momentary blow for Bitcoin. Numerous specialists weighed in following the reports, stating the cash will eventually move in other places in case of a restriction.

When it pertains to Bitcoin, China’s authorities are understood to alter their minds frequently, and a great deal of the time they’ve been unclear on exactly what they prepare to do. It’s rather possible that the reports about the restriction of crypto trading will remain sticking around in the air for a while, without main verification or rejection. Now, it appears that even such unpredictability can not stop Bitcoin in its tracks.

Disclosure: The author of this text owns, or has actually just recently owned, a variety of cryptocurrencies, consisting of BTC and ETH.

Read more: http://mashable.com/2017/09/12/china-bitcoin-ban-exchanges/

One of the world’s top Bitcoin exchanges is closing its doors

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BTCChina, among the leading Bitcoin exchanges in China, is completely closing down, the business revealed on Twitter.

The news followed a couple of weeks of reports that China will prohibit all cryptocurrency exchanges in the nation. The reports were never ever formally verified, and significant exchanges in the nation– consisting of BTCChina– at first stated they had not gotten any main regulations from the authorities.

It’s unclear exactly what has actually altered in the meantime, however BTCChina has actually now revealed it will stop all trading on September 30. The business stated a few of its items, such as the BTCC mining swimming pool, will stay functional.

BTCChina is the 5th biggest Bitcoin exchange worldwide by trading volume inning accordance with CoinMarketCap , and the 3rd biggest in China.

While this news still does not imply that China prepares to formally prohibit all cryptocurrency exchanges in the nation– some have actually hypothesized that the Chinese authorities would simply tighten up the policy of crypto exchanges– it’s an excellent sign that something of the sort might take place.

It’s been a rough number of weeks for Bitcoin and other cryptocurrencies. The worldwide market share of cryptocurrencies diminished significantly after last month’s news that China would prohibit all ICOs (preliminary coin offerings) in the nation. A lot of cryptocurrencies have actually decreased considerably in worth given that.

Disclosure: The author of this text owns, or has actually just recently owned, a variety of cryptocurrencies, consisting of BTC and ETH.

Read more: http://mashable.com/2017/09/14/btcc-bitcoin-exchange-stops-trading/