Client sent malformed Host header. Bitcoin prices reached another record high during trading this weekend following news that China may rescind its ban on cryptocurrencies. 6,050 around a week ago. National Congress of the Communist Ebay bitcoin news of China.
Adding to this news was a report claiming that a new Chinese cryptocurrency platform, zb. At the time of writing, however, the website was inaccessible. It is not clear who is behind the new platform but many have speculated that it is the Chinese government. This would be one way to allow but regulate crypto trading for the mainland.
The government originally banned ICOs in September and followed it up with a general ban on crypto exchanges. This caused the largest decline in Bitcoin price this year. Conversely when good news comes out of China, even if a lot of it is rumor at the moment, the market reacts and Bitcoin is on an upward roll again. Following the initial announcements, Bitcoin recovered strongly as investors wanted to take advantage of the promise of Bitcoin Gold following the recent fork.