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Bitcoin price drop 2014

ICBC and other Chinese banks sent out notices to local bitcoin exchanges announcing that their accounts would be frozen on April 15 coinbase betrouwbaar. Chinese banks sent out notices to local bitcoin exchanges announcing that their accounts would be frozen on April 15, in effect cutting them off from accepting yuan-denominated assets, in a move that has been rumored for weeks. The notices, as he bitcoin price drop 2014 out, are coming from banks themselves, not from the central bank, which has not made any official announcement although it is widely assumed to be directing the decision.

In response, bitcoin prices dropped sharply overnight. The move, however, had been foreshadowed, and hinted at, and well expected. The story first started filtering out in March, when bitcoin prices fell on what at the time was a rumor that the PBOC would bar businesses from using bitcoin, beginning April 15. A week later, another news report on the story, this time from reliable Chinese media sources, hit bitcoin prices again.