Litecoin Prices Today Trade Below $50 Thanks to Skepticism Around Cryptocurrency

JP Morgan Bitcoin is fraud and will blow

Chinese exchange BTCC said Friday that it would cease trading at the end of September. Just over a week after bitcoin hit a fresh all-time high of almost $5,000, the two bits of news from China have prompted a two-stage wave of price declines. Just two days ago China's Bitkan announced that it will suspend over-the-counter (OTC) Bitcoin (BTC) and Bitcoin cash (BCH) trading from Thursday. The digital currency is now trading at US$3,050, a 27% drop since the beginning of the week.

The selloff accelerated on Tuesday, after J.P. Morgan Chase CEO Jamie Dimon called the cryptocurrency a fraud that was "worse than the tulip bulbs" and that "won't end well".

The Chinese government's clampdown on cryptocurrencies has not only sent bitcoin tumbling, it is also hitting the shares of related companies.

AIADMK crisis: Madras HC stays floor test until Sept 20
He claimed that there was no violation of rules by the MLAs, and they had not "betrayed the party, and not left the party". He also faulted the Chief Minister for convening the party General Council to remove her as interim general secretary.

Not everyone seems to be in favor of shutting down Bitcoin trade in China.

Bitcoin and other cryptocurrencies have been falling since the beginning of September when China's PBOC banned the issuance of new digital tokens for fundraising purposes, a relatively new phenom known as ICOs (initial coin offerings).

After the price of bitcoin reached a record high, China moved to reign in the exuberance, announcing Sept 4 that it was outlawing initial coin offerings.

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Bitcoin's value tumbled 15 percent on Thursday to about US$3,300. The bank said under national laws merchants in the country can not accept digital currencies as payment for goods and services, while cryptocurrency exchanges were also not allowed.

The Chinese central bank's announcement last week meant that Chinese firms would no longer be able to issue electronic currency units to raise funds.

At last, it was made public by several mainland China-based bitcoin exchanges that new policy will see renminbi disallowed on exchanges. According to publically available data, approximately 95 percent of global exchanges from traditional fiat currency into bitcoin are from purchases in the Chinese renminbi.

Mom Worries About Diabetic Teen Son Amid Irma Power Outage
FPL said on Tuesday it planned to restore power to eastern Florida by this weekend and to western Florida by September 22. In the Tampa Bay area, almost 550,000 Duke Energy customers and more than 280,000 TECO customers remain without power.

The executive director of the Reserve Bank of India, Sudarshan Sen, told a conference in Mumbai earlier this week that while the RBI was uncomfortable with "non-fiat" cryptocurrencies like Bitcoin, it was considering issuing its own cryptocurrency.

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