The whole cryptocurrency society shakes due to the news from China. As reported, all the existing crypto-exchange markets in China will be closed by the end of this month.
— WhalePanda (@WhalePanda) 15 сентября 2017 г.
However, it seems that China has decided to give Huobi and Okcoin an extra month of life. As reported by caixin.com, the local newspaper, the fact that the exchanges lack in ICO offerings was one of the factors that allowed them to continue operating longer than others.
Because the two platforms have large numbers of users and have not performed ICO operations, the relevant departments have given Huobi and Okcoin a one-month buffer period to stay open until the end of October before shutting down. Specific proposals are still being studied.
Thereby, Bitcoin price has surged instantly, climbing around $400 in minutes from about $2,972, as detailed by cointelegraph.com.
Bitcoin price charts
At the time of writing, the price of the top cryptocurrency is about $3287.58, its market capitalization is $54,467,185,480.