Chinese Investors Fueling Bitcoin Price Jump, Wall Street Journal Reports

The 16% jump in bitcoin’s price in the past four days has largely been driven by Chinese investors, according to The Wall Street Journal, despite government efforts to curb bitcoin trading.
The surge, which pushed bitcoin to $525.49 on Monday, has added $1.2 billion in market capitalization. The surge is also credited to the expected drop in bitcoin supply next month due to an expected cap on bitcoin supply.
OkCoin and Huobi, Chinese bitcoin exchanges, collectively account for 92% of world bitcoin trading.

This post was published at Crypto Coins News on 01/06/2016.