THE bitcoin has continued to rally yhis month after its decline in late September, as the most popular cryptocurrency climbs by 30.3 percent in Q4 despite China’s constant impact.
The crypto has been able to absorb the Asian country’s knocks without losing its footing after it depreciated in value last month due to China’s decision to ban all forms of cryptocurrency.
China had, in its latest dig at the bitcoin market, resolved to add cryptocurrency on its “Negative List for Market Access”, which is a compilation of companies or businesses that the country forbids investors from engaging in.
According to reports, China’s usually negative influence on the crypto assets wasn’t far-reaching this time with the announcement of the negative list, as the crypto has surged by 4.4 percent in the last four days.
Most recently, bitcoin was up 3.13 percent, trading at $56,548, and above the $43,387 (30.3 percent appreciation) it traded in the first day of October, which is the first month of the fourth quarter.
The current market value of crypto assets stands at $1.07 trillion, higher than the $804.35 billion reported as at September 25, and the $942.09 billion of October 5 – adding $127.9 billion in total investors wallet in one week.
