Chinese govt has decided to ban the local bitcoin exchanges. [1] This is pretty big news considering one of large market and mining firms are located in China. Do you think this would affect bitcoin world and bitcoin price in negative way or positive way? Some say china is doing so because people are bypassing the banking system and in turn the government regulation using bitcoin.
I think it's a Chinese way of influencing bitcoin prices from weak hands, those who are weak will surely panic and sell it, and it is in use china buy cheaply.