News Snapshot:
Singapore-based trading firm QCP Capital notes that Chinese miners are facing major liquidity issues and unable to sell their holdings due to government crackdown on exchanges. This gap in demand and supply has triggered the latest BTC price rally. While there have been multiple theories backing the Bitcoin (BTC) price surge with institutional participation, there’s another reason providing fuel to this rally. The recent crackdown by China on the local crypto exchanges could have played a significant role in Bitcoin jump. It’s the basic supply and demand economics playing a key role behind the latest BTC price movement. While the...
