The bitcoin market continues to rally in October following its slip in the last two weeks of September, as the most popular cryptocurrency has surged 30.3 percent in the fourth quarter despite China’s constant taunting.
After it depreciated in value last month due to China’s decision to ban all forms of cryptocurrency, it seems bitcoin has been able to absorb the Asian country’s knocks without losing its footing.
The latest dig at the bitcoin market was the country’s resolve to add cryptocurrency on its “Negative List for Market Access.”, which is a compilation of companies or businesses that China forbids investors from engaging in.
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Ripples Nigeria noted that China’s usually negative influence on the digital asset wasn’t far reaching this time with the announcement of the negative list, as the crypto has appreciated by 4.4 percent in the last four days.
In the last 24hours, bitcoin was up 3.13 percent, trading at $56,548, and above the $43,387 (30.3 percent appreciation) it traded in the first day of October, which is the first month of the fourth quarter.
The crypto’s current market value is put $1.07 trillion, higher than the $804.35 billion reported as at September 25, and the $942.09 billion of October 5 – adding $127.9 billion in total investors wallet in one week.