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>> CHINA Latest News

OCT 29, 2013 - Business Insider

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The Chinese Are In Love With Bitcoin And It's Driving The Digital Currency's Prices Into The Stratosphere

Remember when Bitcoin prices crashed after the government shut down illicit online emporium Silk Road? That now seems like a distant memory.  Since reaching a low of $109 on the Mt. Gox exchange the day of Silk Road incident Oct. 2, prices have climbed nearly $100, reaching as much as $233. Prices haven't fallen below $200 since Sunday. The reason is simple: China. Even before the Silk Road crackdown, Chinese had been nudging the market up. In September, in a story headlined "Bitcoin Mania Grips China," BloombergBusinesseweek's Lulu Yilun Chen reported on the surging investment in ... Read More

Tags: The Chinese Are In Love With Bitcoin And It's Driving The Digital Currency's Prices Into The Stratosphere,  China Latest News