Bitcoin Price Bounces Back $400 In Minutes

The latest news from China has ‘sweetened’ reports all exchange ought to handy Sept thirty, giving Huobi and Okcoin an additional month of life.

Reports from native news outlet Caixin recommend the 2 exchanges’ lack of ICO offerings was one amongst the factors permitting them to continue operative longer than others.

“Because the 2 platforms have giant numbers of users and haven't performed ICO operations, the relevant departments have given Huobi and Okcoin a one-month buffer amount to remain open till the tip of Oct before motion down,” the paper states.

Specific proposals ar still being “studied,” it added.

The extremely volatile Bitcoin market reacted virtually instantly to the news, rising around $400 in minutes from lows of $2972.

The early updates received mixed reviews, however, with some social media commentators suggesting it's some way for Chinese regulators to prolong market manipulation.

Official confirmations ar still however to surface relating to obligatory closure for remaining exchanges by Sept thirty.