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Bitcoin Price Watch; Closing Out The Week

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Bitcoin Price Dives After China’s Central Bank Urges Investor Caution

Bitcoin Price Dives After China's Central Bank Urges Investor Caution*/

– Bitcoin plunged by as much as 12% on Friday after China’s central bank urged investors to take a rational and cautious approach to investing in the digital currency, which is on track for its heaviest two-day drop in two years.Bitcoin had been on a tear until Wednesday, gaining more than 40% in two weeks to hit around $1,139 on the Europe-based Bitstamp exchange, just shy of its all-time record of $1,163.But the web-based digital currency, which has shown an intriguing inverse correlation to the Chinese yuan in recent months, plunged as the yuan soared on Thursday, falling as much as 20% at one point.
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PBOC Meets With Leading Chinese Bitcoin Exchanges Amid Price Volatility

PBOC Meets With Leading Chinese Bitcoin Exchanges Amid Price Volatility*/

– The People’s Bank of China (PBOC) initiated meetings this week with leading bitcoin exchanges in both Beijing and Shanghai.PBOC representatives in Beijing met with OKCoin and Huobi while PBOC representatives in Shanghai met with BTCC .On the evening of Friday, January 6 in China, the PBOC offices in Beijing and Shanghai both issued statements on the meetings, noting that the “recent bitcoin price is highly volatile” and that the bank encourages the exchanges to “operate strictly in accordance with the laws and regulations of China and to conduct self-examination based on related laws and correct any possible irregularities.”
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Bitcoin Price Dropped About 22% Yesterday, Currently Trading at $1000 Level – CoinSpeaker

Bitcoin Price Dropped About 22% Yesterday, Currently Trading at $1000 Level – CoinSpeaker*/

– Right after the bitcoin price appears to break the all-time high yesterday, it suddenly crashes by more than a fifth.According to Coin Market Cap, the price fell from $1,184 to $972.The previous largest price was recorded three years ago – bitcoin cost $1,165.89 as of November 30, 2013.
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Bitcoin Price Watch; Closing Out The Week

Bitcoin Price Watch; Closing Out The Week*/

– Here’s a look at what we are focusing on in the bitcoin price this evening.We’ve come to the end of the week for our daily bitcoin price analysis, and it has been quite an interesting one, to say the least.After the initial sharp run we saw last Sunday (which came on the back of a previous run seen throughout the holiday period) and the follow-through heading into the middle of the week, price seemed to have had enough, and took a nose dive.
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