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RE: Bitcoin, Litecoin, Ripple XRP, Ethereum's dead-cat-bounce ends, and sell-off resumes given China is closing Bitcoin exchanges.

in #bitcoin7 years ago (edited)

Many Chinese people hold btc as a way of getting their money out of China. Closing exchanges won't encourage this group to sell. They are likely to hold. It does however mean that there will be a lot less Chinese money coming into the market