Bitcoin Forum

Exchange inspection is known news and completely expected, why the sudden $100+ price drop. Someone must know something is up.

nothing is up apart from the panic level of people.

was there really something up a couple of months back when bitfinex was hacked and price went down $150?

Just Yellowman giving Whitey a good shafting once again. Nothing to worry about, keep buying up dem 'cheap coins'.

All seems vaguely familiar....

Big Chinese driven pump, followed by some 'bad news', and a subsequent death plunge of a market crash. Mr China been selling their BTC bought with CNY or mined in China on the USD exchanges on the way up, Whitey been panic selling on the way down, as Mr China switches the fake trade volume generator on the totally unregulated CNY exchanges, into reverse.....

....of course, this time around, USD exchange volume was conspicuously anaemic. Perhaps the Bitcoin game will soon be up. No serious western capital can risk playing in a market they know is owned and controlled by a small cabal operating in China, not to mention the Bitfinex scandal which basically proves to anyone with an ounce of sense in their heads, that Bitcoin exchanges are totally unsafe places to have wealth stored.

it is known and normal but the difference is that this time the market makers put it under magnifying glass and started spreading FUD to dump the price because the market makers decided it is time to see some more cheap coins in their pockets for the next rally to make more money and become bigger whales.

I know something...bitcoin should separate itself from the chinese nonsense by employing non-ASIC POW ASAP.
Every time some leading bureaucrat in Beijing farts too loud, his underlings scuttle around looking for action.
This has got to stop, otherwise people will gravitate toward more westernized currencies like eth, monero and zec.

This is crazy... panic is completely escalating. Where have we seen this before? Ah yes... MtGox 2.0 here...

china needs to shit or get off the pot. it's pathetic that a supposed global happening is at the mercy of a few government officials and assholes running bucket shops in far off lands. western traders seem to have conditioned themselves to be china's bitch no matter happens.

if china goes for good, great. if the chinese government sets up a quasi etf to stop non existent capital outflow, great. the constant uncertainty is really, really dull.