Investors aren’t buying BITCOIN !

 The bitcoin-US dollar exchange rate (BTC/USD) may have climbed back above $4,000, but it might be ready to push higher even though China uncertainty reigns supreme.

Following reports the country’s regulators may be seeking to shut down domestic bitcoin exchanges, the bitcoin price fell to a low of $3,977 on the CoinDesk Bitcoin Price Index (BPI) this weekend. The rumor comes a week after the People’s Bank of China (PBOC) banned initial coin offerings (ICO), suddenly outlawing the practice of creating and selling cryptocurrency to investors to finance startup projects.

The confusion about what might lie ahead cut short bitcoin’s ascent on Friday following a repeated technical failure around $4,650 levels, and the subsequent sell-off was exacerbated by the bearish news out of China.

So far, Bloomberg and the Wall street Journal are out with the reports today, suggesting the ban will be limited to exchange-based trading and will not affect over-the-counter transactions.

Further, wires are reporting that the price of bitcoin could drop below $4,000 if China bans trading on continuous order books of the larger exchanges. China’s biggest exchanges and traders across the globe are still waiting for official confirmation.

Investors aren’t buying it

All in all, it’s no wonder the trading is subdued this Monday morning.

However, 

SOURCE: WWW.thebitcoinnews.com