Bitcoin Prices Fall as TaoBao, China’s Biggest Digital Store Bans Sales of Alternative Currencies.

Trading in 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 started off the year with a 30% rally, but it has fallen 15% from yesterday’s high of $995 to $848 after the announcement on Bitstamp.

On December 5^th the Chinese government banned banks in the country from doing transactions in Bitcoins and on the 16^th they banned payment companies from doing business with Bitcoins. Chinese citizens that were interested in acquiring the currency found a way around the law, they bought Bitcoin certificates online on Taobao (China’s Ebay). But now this door may be closed as well. Taobao announced today that from January 14^th, this practice will be forbidden. The effect is that this may decrease demand for Bitcoins in China considerably and possibly put more pressure downwards on its price.

From a technical point of view, we can find support for the currency around $830, but if it is broken it might reach $805 until it finds support again.

(Update - prices back up as its version of vouchers)