Bitcoin News 11 January 2017

BREAKING NEWS – Developments in China – The People’s Bank of China want to regulate Bitcoin Exchanges and are currently meeting with them – they are carrying out an inspection and the process should take a week. Bit-Media mentioned previously that there will be volatility in the markets for the next few weeks. The price today dropped from $920 to $800 and $770 lower levels in China during the day. BTCC, OKCoin and Huobi indicated that they are open to increased oversight from the Chinese government or central bank.

Time to buy more Bitcoin – If you keep investing in bitcoin every month, in time, the money you spent on bitcoin will average out… so that is the strategy to consider and not to panic and knee jerk when the price does a dip or spike. Monthly purchases and investment are best – take a long term view.

Other Bitcoin news – Spare app has added Bitcoin payment support, allowing users to cash out in national currencies in select U.S. regions using any iOS device; Wikileaks founder Julian Assange used data from the blockchain as a “proof of life” during a Reddit ask-me-anything session today; An analyst Needham & Company projects that a bitcoin exchange-traded fund (ETF) could attract as much as $300m in new assets in its first week alone; Bitmarket hosts around 45% of the daily volume of trades between bitcoin and the Polish Zloty; A public-private effort in Sweden to record land titles on a blockchain is set to begin public testing this March; the number of merchants accepting Bitcoin in Japan has grown by more than four times in the last twelve months; China’s Smart Money is Staying in Bitcoin This Time… of course they are!

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