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.