Bitcoin Price Endures Minor Correction, Drops to $3,950 as China Mining Ban Rumors Circulate by unbeaten

cryptocurrency · @unbeaten · Sep 20 '17

$0.14

Bitcoin Price Endures Minor Correction, Drops to $3,950 as China Mining Ban Rumors Circulate

![bitcoin-china.jpg](https://steemitimages.com/DQmd6gYCJsXBUppzWS2F8DPchn4eeyMk72BgKDZNkDZjUgv/bitcoin-china.jpg)

On September 20, bitcoin’s price recorded a minor correction, dropping from $4,010 to $3,950 after showing early signs of recovery this past week. Upon the finalization of the closure of Chinese bitcoin exchanges and trading platforms, bitcoin price recovered quickly from $2,900 to $3,800.

As traders continued to buy the dip and institutional investors including JPMorgan engaged in bitcoin trading through regulated channels such as the Bitcoin XBT in Nordic Nasdaq. This cause the price to surpass the $4,000 mark.

![1.png](https://steemitimages.com/DQmNvH2gzPuASjfW6HD1U6RB9UStdoAxZ1KpH2GWYEn8JiF/1.png)

As bitcoin’s price continued to recover, prominent financial analysts and traders in the cryptocurrency sector including RT’s Keiser Report host Max Keiser and WhalePanda expressed their optimism toward the short-term trend of bitcoin price. Earlier today, Keiser reaffirmed his interim target of $10,000 for bitcoin price.

In the short-term, bitcoin price could stumble and likely endure additional minor corrections if the Chinese government imposes strict regulations and restrictions on local bitcoin mining operators.

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@cheetah · Sep 20 '17

Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://themerkle.com/bitcoin-price-endures-a-minor-correction-drops-to-3950-as-china-mining-ban-rumors-circulate/

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@blackybabies · Sep 20 '17

Bitcoin price will increase slowly.....

👍 blackybabies

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@unbeaten · Sep 20 '17

$1.31

Maybe, just hoping we see $10,000 per Bitcoin by Christmas

👍 hoddle4life

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@retiredinsamar · Sep 20 '17 (edited)

When will worldwide investors NOT worry so much about what China does! What a jittery bunch we have become (not me). We should all remember why we invested in Bitcoin in the first place... for the long-term.  I think everyone should take a day or a week off and just HODL for a change and see what happens. Hey, that's a good thought... International BTC HODL Day!

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@unbeaten · Sep 20 '17

$1.28

I agree completely, the whole point of Bitcoin is that its decentralized and can't be controlled by governments and banks. We should all ignore anything governments have to say about it. I'm in the Hoddle4Life club too :D

👍 hoddle4life

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