Bitcoin trade volume has ticked up a tad capturing $1.3B in daily trade volume, with global Localbitcoin’s trade volumes at an all-time high.
The surge in prices came as the results of an “illegal” referendum in Spain on the independence of Catalonia returned an alleged 90% of voters in favor.
In early September China’s central bank the People’s Bank of China proclaimed initial coin offerings (ICOs) illegal and demanded all related fundraising activity to be halted immediately.
Chinese Bitcoin exchanges were ordered to stop all trading from September 30.
However weeks after Beijing banned fundraising through token launches and ordered some bitcoin exchanges to shut, traders say that the market is far from dead and traders have now moved to buy and sell bitcoin directly with each other on peer-to-peer marketplaces and messenger apps.
Speaking at a bank investor conference in New York, Dimon added: “The currency isn’t going to work. You can’t have a business where people can invent a currency out of thin air and think that people who are buying it are really smart.”
All that dropped the Bitcoin’s price below $3,000 in mid September. But already by the beginning of October the cryptocurrency has returned to its previous benchmark level.