We have seen how bitcoin price suddenly drops from almost 300 USD to 220 - 230 USD in recent days. If you are back from holidays you probably don’t know that a few days ago principal Asian and Chinese markets closed with loses nearly to 5%. Due China possess a huge amount of bitcoin users seems that people goes into panic and because of that bitcoin price have been falling since then.
Now seems that situation calmed down and bitcoin it’s slowing recovering his price, However you should be careful because
the situation is probably that repeats again and where bitcoin price goes is certainly unpredictable as long as China continues with problems in their economy.
China authorities are trying to fix the situation but there are still some doubts about their numbers and seems their economy will not raised as they expected. As we said China possess a huge importance in bitcoin due it’s one of the country with more users and sites accepting this cryptocurrency so whatever happen to China will affect to bitcoin price for sure and probably not for good.