to agree that Bitcoin price growth will be slow but consistent until it experiences a great bull run in years to come. But, it seems as if traders are not willing to take any chances with the Chinese government and their unpredictable nature. That increase is definitely unsustainable, Lei says. Trading has spiked generally on peer-to-peer marketplaces, according to data website Coindance.
The Chinese government has been vocally anti-crypto and has repeatedly cracked down on bitcoin mining and shut down crypto exchanges, as CCN reported. The trend of get 1 free bitcoin digital currency transactions moving offshore is inevitable, Zeng Danhua, the co-author of a bitcoin investment guide, told a television program filmed by Chinese financial news outlet Yicai on Wednesday. China has already demonstrated the ability to influence Bitcoin, but it can also threaten its stability, security, and viability. This can go from censorship to 51 attacks and many different kinds of attacks in between. Over the next few weeks, the global Bitcoin exchange market will stabilize, as traders move from the Chinese market to South Korea and Japan, two markets that have developed significantly more efficient regulations, industry standards and policies for both cryptocurrency exchanges and users. Industry insiders say some overseas-based initial coin offerings (ICOs) are still being marketed.
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