Stop Yuan-to-Bitcoin Trading By October's End
On this NEWS, BTC hit the lower price in the last 6 weeks.
But it's really important what Chinese bitcoin exchanges Huobi and OKCoin decided after Chinese regulators declared initial coin offerings (ICO), or digital token sales, illegal and asked Bitcoin to end all fundraising activity? The answer is YES but NO.
In the short term, it's important because China accounts for 23 percent of all Bitcoin trades and houses some of the most successful Bitcoin miners.
If we think in the medium and long term, my opinion is nothing will change. Because bitcoin's strength is over this type of policy, haven't a central bank that control and manipulate it and it's delocalized on www.
Another important reason is that the restrictions will reportedly only apply to trading on exchanges, not over-the-counter transactions.
My two cents.