The Bitcoin market remains defiant after ban in Beijing

Merely weeks after Beijing banned ICO fundraising and closed several cryptocurrency exchanges, which many traders feared the worst for the virtual currencies; however experts are stating that the market is far from dead. While several exchanges have announced that they will close by early November; how is the market possibly still thriving? Traders have now moved to buying and selling bitcoin directly removing the middle guy by using peer-to-peer marketplaces and messenger apps. Although the crackdown has dissuaded the majority of inexperienced investors from trading; Bitcoin experts have exposed the limits Chinese regulators face in controlling the industry, where many users remain anonymous and are difficult to track.

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