Bitcoin rallied above $6000 again on Sunday afternoon on hopes that Beijing will lift regulations that halted trade of digital currency in China. Ethereum and Litecoin also rallied—see table. Still, the resumption of trade in Bitcoins in China won’t be a surprise. China's big government and government owned and controlled banks cannot tolerate Bitcoin. That's in the long term, though, when Bitcoin has the potential to replace China’s currency in everyday transactions, and as a store of value.

Source: Forbes October 29, 2017 21:56 UTC