China Crypto Roundup (Feb.15-Feb.21): Several Listed Companies Increased Investment in Mining, Well-known Investor Bought Bitcoin ETF

Feb 22, 2021

1. 500.com announced acquisition of Bitmain's spin-off BTC.com mining pool On February 16, 500.com announced that it would acquire BTC.com mining pool, which Wu Jihan spin-off from Bitmain, for about 10% of the shares, including the entire mining pool business of BTC.com, the BTC...

China Bitcoin Dominance Drops as Revealed by Pre New Year Price Trend

Feb 9, 2021

The Chinese New Year comes up on February 12 2021, just a few days from the time of writing. Based on historic trends, participants in the Bitcoin and cryptocurrency market expected prices to drop. This has been the usual behaviour of the market around this time of the year. This time aroun...

China Crypto Roundup (Feb.1-Feb.7): Cryptocurrency Investments Facing New Problems, Digital RMB Getting New Progress

Feb 8, 2021

1. Multiple cases banning cryptocurrencies from settling with RMB will make it harder to recoup investment losses Chinese courts have not denied that bitcoin is property, but exchange and settlement between virtual and fiat currencies, which are prohibited by the policy. It began to be enfo...

More Miners on Order as Data Again Suggests Less Concentrated Bitcoin Ownership 

Feb 3, 2021

A top online sports lottery service provider in China which recently agreed to accept Bitcoin or USD for the issuance and sales of its company’s newly-issued Class A ordinary shares has hinted on its developing blockchain-related business with a planned purchase of up to 15,900 Bitcoin min...

How Would The ‘Chinese New Year’ Affect The Price of Bitcoin?

Feb 1, 2021

The characteristic swings usually displayed by Bitcoin price is what has earned it the reputation of a very volatile asset. While a lot of people assume that high volatility of Bitcoin price makes it risky for investment, others see the price swings as opportunities to make money. Several fa...

Global Shortage Of Microchips Is Taking A Toll On Chinese Bitcoin Miners

Jan 27, 2021

There is a global shortage of computer chips, and this is posing a problem for many Chinese Bitcoin miners and miners of other cryptocurrencies as well. This is happening at a time when there is a significant increase in the price of Bitcoin, particularly as a result of increased participation ...

Cryptocurrency-Related Investment Disputes Are On The Increase In China

Jan 25, 2021

The number of court cases involving cryptocurrency investment disputes reached a record high in 2020. Altogether, the year recorded 872 cryptocurrency-related cases, higher than about 700 of similar cases that were recorded in the previous year, 2019. Some of the most popular of the cases include...

More than $17.5 Billion in Cryptocurrency Moved Out of China in 2020

Jan 15, 2021

China has seen unregulated capital flight via cryptocurrency surge to $17.5 billion, a 51% increase from 2019’s $11.4 billion, according to a recent report. On January 11, China-based blockchain security firm Peckshield published its “2020 Digital Asset Anti-Money Laundry (AML) Re...

Chinese Bitcoin Miners Fear Another Price Dump

Jan 14, 2021

From the second half of the year 2020, things start going like three years ago. After breaking through $10000, the price of bitcoin once skyrocketing to $40000. Long Qin, a bitcoin miner in China, has been persisting in hoarding bitcoins, and the three bitcoins he mined in five years ago hav...

Bitcoin Mining Difficulty Hits Record High Amid Price Rally

Jan 12, 2021

Along with bitcoin breaking new all-time highs, its mining difficulty also hits a record high. Saturday’s adjustment at block 665,280 marks the biggest increase in nearly 4 months, a 10.79% increase from the December 28 adjustment, putting the metric above 20 trillion for the first time ever....