 Hello from us in Colorado, this is Maria Jones at Pointelegraph channel with the rundown of our hottest news stories from across cryptocurrency this week. Bitcoin too big to be killed? Following China's ban on ICOs and the recent news of total exchange bands, Bitcoin crashed to US$3,000. However, this crash was shot live and Bitcoin rapidly stored back to the $4,000 mark. Digital currency users are finding ways around the Chinese ban. In the meantime, Chinese neighbors such as Japan, Hong Kong and South Korea are profiting. All of this indicates that Bitcoin is more than capable of dealing with a few bombs in the road. Peter van Valkenburg, director of research at Coin Center, sees positive in Chinese major reactions. Chinese share of the broader cryptocurrency market isn't as high as it once was. Therefore, changes in regulations have had less of an impact than they would have had in a few years ago. The bounce back from these negative hits is such a quick and powerful fashion indicates that there is not much in terms of real world market pressure that can derail Bitcoin. The slump of about 20% is actually rather minor if we look at Bitcoin past volatility. Bitcoin has become too big to be sunk by one or two small mishaps along the way. A news center for Bitcoin. Following the upheaval course by the recent announcement in China, it appears that Bitcoin transaction volumes have shifted out of the country. All indicators seem to show that traders have moved to South Korea. The largest exchange in South Korea processed more transactions than Bitfinex and Bitrax. This represents a substantial shift away from China by the Bitcoin community. This may be a part thanks to South Korea's recent legalization Bitcoin. This move also highlights the community's flexibility. As Bitcoin is a decentralized cryptocurrency, no government is able to truly balance much less controlling. Countries is beginning to see that the best route forward is to embrace the currency. Many people see China's recent announcement as a blow to Bitcoin. The reality is that it simply proves what crypto fires believed about Bitcoin all along. It's remarkably flexible and multifaceted. In the wake of the lockdown on cryptocurrency in China, other countries are beginning to be more open to Bitcoin. A recent statement by Malaysia's Bank, Nigeria's governor, indicates that Malaysia may be the next to open its doors to Bitcoin. The government stated clearly that Bank Nigeria was working on cryptocurrency guidelines. While not an explicit statement, it suggests the government will legalize Bitcoin as a currency following the creation of this guideline. Malaysia has already been seen as an excellent location for Bitcoin and other cryptocurrencies. Legalization would create a wave of new investment into the country. Ray Deleur, the founder and head of Bridgewater, the world's largest hedge fund, knows a thing or two about the traditional investment business. He has spotted and steered his firm around traditional asset bubbles in the past. But does he know how to spot crypto asset bubbles? Recently, Deleur joined his friend and fellow billionaire finance mogul Jeremy Diamond in calling Bitcoin a bubble. He states that Bitcoin is not an effective storeholder wealth because it has volatility to eat unlike golf. According to Deleur's Bridgewater criteria, there are two important requirements in order to be considered a valid currency. The first is that it must serve as a medium of exchange and the second is that it must be a store of wealth. Deleur's argues that the action of resulting abundance in cryptocurrency has very much been driven by people simply thinking they can sell it in a higher price without any understanding of fundamentals. Therefore, it's a bubble. Deleur is not the only finance CEO with a negative sense on Bitcoin and other cryptocurrencies. Last week, JP Morgan's CEO, Jamie Diamond, took a shot at calling Bitcoin a fraud. Only time will tell if their two financiers are right in their predictions about cryptocurrencies. The Australian government has finally and conclusively ended the double taxation of Bitcoin and other cryptocurrencies. The bill ends the practice of taxing the purchase of Bitcoin and other cryptocurrencies. The current Australian government hopes that the bill will open doors from greater levels of Tintac investment into the country. As China moves to crack down on ICOs and other cryptocurrencies, the Australian government is seeking to embrace the sea of change in the financial world. Breaking news! Roger Rare, Bitcoin jugeus, just announced he's gonna buy a piece of land to create a new decentralized society. For the very latest news and events from the crypto scene, check out pointelegraph.com and subscribe to our YouTube channel. If you would like to ask me a question or share your story with us, just leave a comment right here and see you next week.