170930 China Will Announce New Cryptocurrency Regulations Oct. 1

China will announce new cryptocurrency regulations October 1, 2017.  That’s very good news for Bitcoin.  Until now, rumor had it, that China was going to ban cryptocurrency altogether. They have already banned ICOs (Initial Coin Offerings) throughout the country.  China was the largest single investor country in Bitcoin prior to the ban.  Japan is now the largest Bitcoin investor country.  Speculation will probably lift the price of Bitcoin prior to Monday.  After we hear what the regulations are its anybody’s guess as to how the Bitcoin community will react.  Needless to say, a positive take on the regulations will give Bitcoin a boost.  A cautious take on the regulations could cause some further hedging.  Ultimately, Bitcoin has to find its supporters and detractors and learn to live within their push and pull.

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