Bitcoin Is Starting To Move Again
May 23, 2014, 23:04 IST
Bitcoin prices climbed 20% this week, briefly hitting a one-month high of $536, as concerns about a crackdown in China on the cryptocurrency eased slightly.
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In an interview with CoinDesk Monday, the heads of two of China's largest exchanges said they remained optimistic about Bitcoin's future in China, despite a third exchange shutting down this month over what it said was "unprecedented pressure" from the PBOC.
"The People's Bank of China's policies would 'bring a period of hardship', but, in the long term, the situation would improve, he predicted, since the government has shown some interest in communicating with bitcoin companies," CoinDesk's Jon Southurst reported Monday.
Prices have since come down a bit to $523. Chart:
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