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Bitcoin starts 2022 at $47.2K as fresh research pins performance on China trader exodus
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Bitcoin (BTC) bears lost out at the last minute as 2021 came to an end — and consensus is building around China again being the reason for weakness.
Hours before the yearly close, BTC/USD dived $2,000 to lows of $45,630 on Bitstamp before a modest recovery drew a line under 2021 at $47,200, data from Cointelegraph Markets Pro and TradingView shows.
While something of an anticlimax and far below many popular projections, the lack of parabolic upside for Bitcoin has recently seen explanations shift to exchanges.
Chinese users, following years of the government tightening the screws around crypto trading, had until Dec. 31 to leave the major Chinese exchanges, which were obliged to deregister them.
For Bobby Lee, former CEO of exchange BTCC, this
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