Cryptocurrency markets gaining its value once again after the freefall of bitcoin price. The price of bitcoin rebounds from $2,900 to $3, 830 within 24 hours. When the Chinese authorities asked all cryptocurrency exchanges in China to suspend their operations by 30th September 2017.
The regain in bitcoin price was recorded by 23% since the news from China got public. A few days earlier the same report from China plunged the bitcoin price from $3,700 to $2,900. However, the market got stable and once again bitcoin has proved no such news or action can bring down the cryptocurrency market.
Many bitcoin analyst and investors have shown theirs believe in bitcoin since the reports of Chinese exchanges ban hit the market and bought the great loss at price of bitcoin. Whereas several investors and traders got panic and reacted while started selling off their bitcoins such as South Korea, Japan, and the US.
The quick reaction from analysts and investors over bitcoin leads to the short-term crash of the cryptocurrency value. Whereas some were waiting for the drop in bitcoin price to invest. The effect of the ban on bitcoin exchange will be no longer seen on global bitcoin industry or cryptocurrencies market.