Bitcoin Price Bounces Back Above $3500 as Top Chinese Exchanges Shut Down

The cryptocurrency market is living up to its reputation as a wild roller-coaster ride today. After falling below $2900 just a couple of hours ago, the price of Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term is now back above $3500.

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The apparent reason for this rebound is that both OKCoin and Huobi, China's two biggest Bitcoin exchanges, have just announced that they will continue to operate until the end of October.

While the news that two of the biggest Bitcoin exchanges in the world are shutting down and about to cease all trading in a month and half sounds very bad, it is actually an improvement as they were expected to shut down completely by the end of September.