Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

Bitcoin Tumbles After PBOC Rumors Confirmed

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

Zero Hedge
December 17, 2013

UPDATE: The earlier rumors have been confirmed: People’s Bank of China told more than 10 third-party payment service providers yesterday not to give clearing services to online Bitcoin exchanges, China Business News reports, citing a central bank meeting with the companies. This news is pressuring Bitcoin to $678 (on Mt.Gox) but more notably, BTC China rates imply a $588 equivalent price – down 57% from its highs. From a $100-plus premium, BTC China now trades $130 cheap to Mt.Gox as the ‘arb’ flips.


Talk from the PBOC (via Sina) that “the central bank directs: third party payment institutions shall not undertake business with Bitcoin hosted sites,” appears to be responsible for the slump in the virtual currency once again. This expands the PBOC’s earlier Bitcoin ban to other institutions. Bitcoin prices have dropped over 20% from their overnight highs – trading at around $715 now. Perhaps even more notable is the relationship between Bitcoin and the precious metals today with the early Bitcoin weakness corresponding almost perfectly to gold and silver strength (and again mid-morning in the US).

This article was posted: Tuesday, December 17, 2013 at 6:44 am

Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

Raheem Kassam: Sh*thole London See the rest on the Alex Jones YouTube channel.

Germans Being Mass Brainwashed by TV to Submit to Islam See the rest on the Alex Jones YouTube channel.

https://www.youtube.com/embed/bcPVfa76Qig https://www.youtube.com/embed/kYmTFL9nbRQ

© 2018 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.