Bitcoin builds on weekend rebound

The news last week from China; that the authorities there are to ban the use of all cryptocurrency and any related transactions did deliver a move lower in all the major coins on Friday morning. Bitcoin dropped back from an earlier session high above 45k, to as low as 40,710 later in the day. However, the fallout was surely not that critical given the news, and the significant number of Chinese based crypto miners and holders. There are possibly a number of reasons for that too, not least the ability to circumvent any official regulation. However, that is not to guarantee it can be achieved, as at this stage that is not clear. No matter though because Bitcoin rebounded quite well into the weekend and has managed to make some further progress so far today. The lead coin has recovered back above 44k in Asian trading. The range seen so far today has been covered by 42,700 to 44,350. Bitcoin is just now trading at 44,060