Bitcoin Forum

I say it can pull the price down momentarily, but not for long. Soon the price will push back up and we are going to the moon again. Once the restlessness settles and everyone realizes that it is not verified, then we can enjoy a very good price of bitcoin again.


https://bitkan.com/news/topic/25088 (https://bitkan.com/news/topic/25088)

I hope this is just a hoax and it wont deter the price in the long term as i was expecting the price of bitcoin to cross $800 by mid November and settling once again by December end since most of them will book their profits by December

Rumors as it finest and it's common when there is a so called bull run. It's just that others are expecting too much since most of the bull run can reached $200 above price increase in the past.

That rumor can be considered as reference. For a trend to become successful, it needs actions from the community. If ever the rumor is true, maybe some of people concerned dump their coins to take profits and price decrease a bit. Since traders wants to take profits they decided to ride the price dip and now the price sits at around $700 which I see as a good starting point for another bull run that will start.

#speculation

Even if this news is real the hardest part for chinese government will be to implement this limitation in china as there are lots of miner living with earning from bitcoin mining. However it is stated that they are just planning or finding way to limit the bitcoin trading volume so i don't think there is anything to panic over this news. Surprised to see how easily bitcoin flows from weak hands to strong hands within few hour yesterday.

We saw 675 in the last 24 hours at btc-e.com but it recovered very fast to 700$'s. It seems bitcoin can recover from any bad news at the moment. It is because the world is heading to a massive shit bomb and the other bad news about bitcoin looks like very small compared to that shitbomb.

China banning / limiting bitcoin trading? No way they will never do this for sure, government have tried to have strong capital control however they are failed so many times. This news may end up just being rumor or this may remain creating uncertainty over chinese people whether this will be reality or not. Those panic dump created good chance for whales to deposit all their fiat and again buy all cheaper bitcoin which have already pumped the price from <$700. Price may stay for few days/weeks at $700 range due to this rumor.

it was before said and now but nothing done so far only rumors for Russian was the same a year or two ago but only rumor also
this wont change anything and it was only minor setback so we are going again in good steady rise pattern

Just a rumor really and many people pushing that since they want to create mass panic that can possibly cause some dump of the bitcoins price, but totally no rummors have been proven thats why we can see that bitcoin has never been complicates and yet continue to grow so far, we just don't easily lessen to anyone and do our very own research so we can prove that their rumors are wrong since they're basis are not truly true.

price these days have a very strong tendency to stay above $700 so it is like an spring at this moment. you can put pressure on it with panic sells and rumors you spread and make it go down but it will release and jump back up to the last lever above $700 again. and this has already happened once and will happen again.

Rumors can indeed affect. But many times those rumors have the intent of lowering the price in order to buy cheaper ... a down by rumors is likely a good buying signal  ;D

To my opinion rumors of any kind can't influence the price significantly. But it can influence on users to start some unreasonable behaviour like panic buying or selling and influence the price on that way. But I think that the price will stay around 700$ for a while and then start to move up towards 800$.

Why should people care about a certain country doing anything? bitcoin's fate isn't determined by any country so you can relax and enjoy trading.

China is country which have highest number of bitcoin miner or majority of bitcoin mining power is centralized in china as well as chinese are known behind every price pump. So the fud regarding china yesterday have caused a big panic among small traders and result of which we are now at $700 mark. This shows actually financial rules regarding any country can effect the bitcoin market however it is also true that chinese will find a way out from this proposed limitation.

This is not the first time that there are these rumors that china will restrict or prohibit the use of btc.
But in the past it never happened like it was announced before.
In my opinion this rumors are just for market manipulation of those, who had just sold there btc and want to by again cheap.   

Sell the rumours buy the news :)

In 2013 bitcoin was too small fish for any regulation - so it might be different this time.

Maybe that small price decrease from yesterday was a reaction on that news.
But if chinese miners have trouble with sending their mined coins to the rest of the world, would not that mean that the supply is shortened there?
And to me that sounds like the price would be going up then, at least on the long run.

they can spin rumors and half truths out for months and the market laps it up. people seem to want to be scared.

rumors are only rumors and you should not pay any attention to them especially in bitcoin that there is a new rumor every day and multiple rumors whenever price changes.

also stop going to these news sites to read anything, they are like poison for bitcoiners.

It's not surprising to see the same scenario in a regular stock exchange where even with regulation by Government bodies, false news can bring down the price of stocks of large companies cause people will assume the news to be true and immediately sell the stocks inorder to not be at a loss. This is how the stock exchange works and I believe it's the same with Bitcoin. But it's hilarious how this hoax was pull off and published on large media sites like zerohedge citing Bloomberg as a source. I hope Bitcoins price recovers, if not, there could be other factors that are currently affecting the price as well.

How a bitcoin Whale work :
1- Collect bitcoin from market
2-Buy with huge orders to rise the price
3-Make people think thats the stable price
4-Sell all btcs you've collected and gain profit.
5-Create fake news  and sell last part of your btcs to drop the price
6- go to 1

Maybe we have a lot of factors that we can't see like a wale selling a lot of bitcoin at the top but for sure China have something with the price, hope we can see the price raising again to 750 in this year... More than this? just a dream.

It seems that the rumors did its job and knock down BTC price for some 45-50$ so far.Now price is around 690$ at most exchanges and the question is how much will it take to market stabilizes.It is strange that whenever the price goes up some bad news appears and returning price back.

One thing is certain, someone earning big money in this game.Once again it shows how easy it is to manipulate the market when it comes to Bitcoin.

http://pics.tinypic.pl/i/00836/2i6i9m08ctoc_t.jpg (http://www.tinypic.pl/2i6i9m08ctoc)

I can say it was very effective indeed.  It set the price back to  at least $685.  Though all we can blame is those people who have weak hands buying and investing with bitcoin and yet not trusting its market.  Anyway, there is the possibility of a whale cashing out and trying to regain BTC thru this fake rumor and I think he succeeded.

Bitcoin is what, a $10 billion market in total?  Yeah, I'd say rumors could probably move it pretty good.  Think about how rumors in the stock market move stocks with market caps much greater than bitcoin's.

As far as the actual rumor here--yeah, I believe it.  You can't underestimate the Chinese, man.  They're huge (!) into bitcoin.  They also make nice porcelain pens.

Rumor can easily trigger a trading event that was going to happen anyway,  like a correction after a rally.

maybe some people don't want to buy bitcoin with high price and want to decrease the price because the price is still stuck around that price and many people have invest their money to buy bitcoin now so its hard to get up but i am sure that the price will increase soon.

first of all, what we heard was all lies and rumors that had no reality to it despite the effect it had on the bitcoin price temporarily. besides the whales and all the mining farms in China are never going to let that happen even if they have to bribe their way to change the law, they will.

I think that something like a very big rumour can control Bitcoin. A few months ago I was offering to do an experiment on this forum, writing different threads about bitcoin promising t obe very profitable in the nearest future, so we could see whether something happens with the price but forum members didn't like this idea.

The thing with weak-handed traders is that they would believe into almost all of the rumors happening on the bitcoin economy and sell off their assets thinking that it's the best way to do so as to prevent further losses however, it's just a mind's game at the end of the day. Whales on the other hand, wins in this psychological warfare and end up getting and raking the profits on the market.

It's exactly as the title says, a rumour. So no this won't have a big affect on the price of bitcoin. We just saw a small dip but it was within 5% so that's completely normal for any given day!

Some rumors can indeed take the price down, you can already see this at news articles that get published about the bitcoin.

Rumors are only rumors until it can be confirmed or denied, so people should not run wild with every rumor that goes around. Most Bitcoin speculators < Day traders > will react to the smallest dip in the price. These people add the snow to a small snow ball gaining momentum down a hill.

The snow ball will not grow bigger, if the surface is frozen solid, so we should mimic the same principle. You should "freeze" or put your actions on hold, until the rumors are confirmed or denied. This way, the snowball will not grow bigger and we will see less destruction. 

Well it just happened, no matter how many times we say it is just a fake rumor, and that only fool will fall for it, many people had fell for it.  If you can only see the volume that was been sold when this rumor occurs. It is enough to pull bitcoin back to $700. 

Though I agree that we should verify the news first, the source and if it is really true. It is our investment and we should verify all information that may affect our holding value at all cost.

it doesn't really matter because these changes are the normal fluctuations of bitcoin price and it has always been like this but some people seem to have forgotten that bitcoin price used to swing $50-100 at a time. and as he said if you are a day trader then enjoy the ride to make more profit and if not just hold on to your hat and enjoy the long term profit.

Yeah, a quick fact check would be sufficient to understand that this is bs. Yet quite a few fell for it. Serves as proof that many are too prone to panic and, possibly, a bit skeptical.

Now you have seen it is really rumors, because now still bitcoin is going up and it is second time that bitcoin again rise up, And now we have a proof because bitcoin is $1043. It is too good for all of bitcoin users and definitely it give us more encouraging to believe the bitcoin and avoid these type of rumors.