Bitcoin Forum

all Chinese exchanges are working fine and even their official announcements are coming out saying there is nothing going on over there in China.

here is an example from BTCC (a Chinese exchange and mining pool):

now go ahead and continue giving your coins to whales...

It's indeed fake news. The weak hands got tricked one more time... More:

"Okcoin and Huobi PRs said they haven't received such notices and are still in operation as of now"
https://twitter.com/luluyilun/status/906163511658557440

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1. Open an enormous $BTC short
2. Bribe some underpaid reporter to spread fake news about China banning #Bitcoin (again)
3. ????
4. Profit

https://twitter.com/cryptoSqueeze/status/906184599671250944

I mean you can take advantage just as much as them but it's still pretty stupid to be gone for 1 minute and comeback to see bitcoin price dropping 100$ every minute. I'm sure when coinbase gives their BCH to people, everyone will dump it and BTC's price will boost up. Anyways, just keep calm.

Some people can not remain calm. I saw half an hour ago a lot of panic selling. To me it is ridiculous from it. Why do not people trust bitcoin? After all, he gives them a good profit.
I consider this news - speculation. It can not be realized, but it has had a very strong (but short-term) impact on the whole market

price went down about $400 which is ~8% that is not at all big. and $220 of it is already recovered!
and that is bitcoin, volatile like this. it won't change for some time but it slowly becomes less volatile. the same news 2-3 years ago would have meant 30% drop at least.

i don't think so because if people want to sell BCH for BTC then they do it directly. meaning they sell BCH for BTC and that doesn't change bitcoin price. it is like saying people sold dogecoin for bitcoin!

People had been saying bullshit over ICOs ban too. And guess what, it happened! And they had the arguments (China wants the money out of crypto business, etc).

You can't be sure...

Yes... they might ban it for now, till they regulate it, like ICOs.

There is too much FUD coming out of China these days,  because of the ban on ICOs. China is huge for bitcoin and mining, and I doubt they will ban bitcoin news and updates outright. I see the price taking a hit due to fake news.

That is right. But without the Chinese people speculating the bitcoin, the price could be more stable.

Well to be fair, I don't think is really getting less volatile. From 2000$ to almost 5k in 2 months is still pretty volatile. Is just the price is so high now that 100$ is not a big % but still 400$ can mean losing a ton of money in a very short amount of time. I mean I'm not complaining, that's bitcoin if you want to be a day trader. You can hold forever and end up winning anyways.

I thought it is a real news well there are many people are sold their bitcoin and now i think they are regretting for those who are sold their bitcoin below $4,300 mine i just thinking that better to hold bitcoin because i was late to know about the banning bitcoin and ICO that bitcoin was falling huge price from the past few days.
Many people right now are relaying in news and hope they learn right now and they know its a part of whales strategy just to buy a low price of bitcoin...

A bunch of intelligent traders have shorted their coins and reaped massive profit by unleashing a tsunami of fake information about the Chinese exchange ban. The same thing happened in 2013 December, If I remember correctly.

Yes, there is not anything abnormal in China, all the messages that are detrimental to the entire market are just fabricated, and it has caused some damage.

ViaBTC CEO and SEC news are fabricated? They would discredit themselves...

https://docs.google.com/document/d/1sNYGpwj3EKkRhlejoycytZLq1OpFpl0bqOtCev0HexY/edit

Well, according to that a full on ban is the plan, and that's a reputable news source. As ever though it'll probably be lost in a fug of doublespeak.

SELL now or regret later...

Too many new articles arising hour after hour... and already one bitcoin exchange CEO CONFIRMED the BAN (ViaBTC CEO on twitter).

Also bitcoin and all crypto is selling with a great discount on all chinese exchanges... you can buy Bitcoin with $500 discount there. You think that all Chinese are stupid and just irrational?

It's insane how this market still falls for China trap news. It shows that despite the major growth we have gone through, some things still haven't changed, and that's quite sad to be honest.

It means that in that aspect the market hasn't been maturing at all ~ the Chinese market went down with like $800/$900 in a matter of minutes, talking about a massively over exaggerated reaction.....

I am at least glad that the western market hasn't let itself go like China did ~ it would be a sad thing that everything we built up till now goes to waste because of fake news.

The wales use this to create panic and so that the amatuar trader will sell off they bitcoin cheap to them. Bitcoin cannot be banned by any government as this will lead to black-market bum that will result the coins fell into the hands of evil men. I seriously think this manipulations happened as the part of plans by the Wales to fool others with the intention of making profit.

Hypothetically lets say the news was true. What is the price floor? $3600?

What exchange site you are talking about that can gives you a $500 discount let me know looks interesting and hope it is not a scam.
As i can seen the price right now decreased but i was confused well let see if the price can be decrease more..

As i can notice this is another way of whales just like before that giving a fake news.
But for now its really confused if its banning in china and it still alive in other country well i think its not a good idea also other country will be affected..
Well lets see what will happen in few days ..
I just still keep holding rather than selling my bitcoin without any proof of banning or real source if where did you get that news.

It's managed a several hundred dollar fall without any confirmation from the big exchanges. If it is true then it'll go lower than that, but equally it's possible that the Chinese price would decouple from everywhere else even more. Was it not sub $3500 at some point today in China anyway?

If we get panic selling the weekly 20 MA and previous swing high may provide support at $2800 - $3000

I just found another twit from cnledger here you can look at this ..
https://twitter.com/cnLedger/status/906195967908601856
And i think every news  we heard right now are almost fake.. just like what twitter reply that the news are fake..
If you sell right now you will be regret .. so keep holding bitcoin is good thing to keep calm the movement of the price.. and i think there are traders are keep buying large amount of bitcoin right now in the market. .

This is funny.  See how some people getting desperate to acquire Bitcoin.  They even spread a wrong infromation and news regarding exchanges and bitcoin status in China.  This sure means that Bitcoin will be going very big in the next months to come.  They are playing dirty now  ;D trying to shake weak hands and even stronger one but I guess they will fail badly.

Let them be because FUD is a common thing in bitcoin and those who buys always try to manipulate price for their own profit specially whales. If there is something that we can do it is to not believe them and hold. We can't do something about it if others will believe their lies. Either way it is a good opportunity to buy some bitcoin after all, this FUD is making it cheaper.

Coindesk points out Caixin's source predicted the ICO ban two days in advance: https://www.coindesk.com/report-casts-doubt-future-chinas-bitcoin-exchanges/

Now Bitcoin...

If it just a rumor, than nothing to worry. But, can you get the message? Chinese people and miners hold big portion of bitcoin, if China govs ban bitcoin, its price will be crash to $3000 I guess. On the other hand, we will be happy because there are more cheaper coins in circulation waiting to be purchased.
But, this is seems like a fake news obviously.

Can't someone think of better FUD, I'm totally bored of the China one  ???  >:(

Russia's been trying very hard for a very long time, but they're pathetically amateurish in comparison and shot their bolt far too early.

Check BtcChina Twitter, they confirm that they have halted trading. nvm seems that someone was pulling a prank.

This is an opportunity to buy bitcoin, I prefer to wait until bitcoin fall to the bottom and then buy more cheaper bitcoin.
If you want to risk your bitcoin, go ahead to sell it right now, it's your call but you may regret it if this ban news only FUD.
However, bitcoin price always fluctuate, it just another normal day in bitcoin market.

http://www.pbc.gov.cn/english/130721/3377816/index.html

All ICO, no BTC or ETH or anything equally harmless.

So far...

Markets have indeed overreacted in my opinion.

This isn't verified news by any means. The actual exchanges themselves have said that they haven't heard of anything from the regulators, or even a hint of anything bad to come. No exchanges have ceased to exist because of this so called report.

Most likely to be BS, but there is a chance that it is true. But then again, this shouldn't come as a surprise to anyone. China is historically strict on bitcoin, and most people have moved to p2p anyways.

ICO ban was implemented and the same has caused a fluctuation in the price. Few day back too there was a price fluctuation and people panicked of the sudden drop in price which recovered in a short. Now once again a big drop has taken place, but this keeps fluctuating without moving down beyond certain limit of price which seems to be around $4350.

But you know, that is really effective. I mean, the price of bitcoin fall again today especially on bitcoin China exchanges, the price fall so hard on that sites. I actually don't know is that news is real or not but i'm sure the price of bitcoin will back to the top again soon. I thought China only ban ICOs.

I wouldnt be that sure that the news are fake. They are likely to be true, but we'll se on Monday.

but china is the largest miner in most of the notable cryptocurrency network! if the bitcoin is actually banned from china, bitcoin would be losing a lot even if other countries help them. i understand that op claiming the bitcoin ban from china is bullshit, but this rumour is killing the price of bitcoin, might be a trap again. ???

We can't really tell right now whether or not news is bullshit. The chances are probably close to 50/50 but i'm leaning towards BS here. If the government was to shut down the exchanges then they would have definitely warned the exchanges beforehand.

But the on the other hand, everyone's covering it. I don't know whether it's just that they are stupid to not check the source, but this source seems somewhat trusted.

Anyways, the price has recovered from $4100 to $4200 now. I think we might see btc dip below $4000 before bouncing back up.

More like $3800-$4000. There is too much FUD, I don't get it how people fall for this FUD and start panic selling. Whether the news is true or not, it's not gonna affect the price too much as we can see.

i am getting the popcorn ready...

this is becoming interesting. someone spread some FUD and it became big and now everyone is running around in circles ;D

I agree there has been too much hype over the China ICO ban these days that people misunderstand and mistaken it for a total bitcoin or cryptocurrency ban when in fact, China recognizes bitcoin as legal. They have simply restricted and declared ICOs banned, but not bitcoin itself. I think that Bitcoin is pretty strong in China and there are chinamen who invested on bitcoin, so it is not possible to have a ban.

If its true that the price has been drastically affected because of this news, the price now is slowly starting to recover.

No idea whether this is legit news or not, i think it is probably not legit.

People have overreacted. A lot of people probably thought that the exchange ban was official. But only now they are realizing that it is actually just a report with no basis, only rumours and could have potentially just been a piece to attract attention and help a trader who is behind all of this to make profit off a short.

Anyways, btc is going up gradually and recovering. Currently $4280 and still going. I think if it did turn out to be fake news then btc will probably be pumped to $5000 because of relief.

Looks like it was again another made up bullshit, just to crash the market and accumulate more Bitcoin and of course shorting it from the top.Pretty much fabricated on purpose and the insiders took a huge advantage of course.
When you were smart, you knew this is 95% bs and just bought the dip anyway.

The fact that China really a big fish when in comes in crypto currency so when the news explode everyone thought this is all true and we can't blame the small fish to swim in the ocean. So better to hold our coins tight and let the big whales play this game.

It seems this bad news really affect traders inside China.  The price of bitcoin plummet in there resulting to lower price, as I recall a news stated that Bitcoin price fall under $4000 after the news about closing exchanges spreads in the internet.  We are still confused whether this statement is true or not but the impact of such news had already been felt.  I hope this won't badly affect the global market of Bitcoin .

Can it be really a coincidence that just a few days after the chinese central bank made a real announcement about crypto currencies, this fake news occures? I think it is not.
Somebody was planning that. Longterm, I suppose. The moment was carefully chosen.
An already alerted market does not need much to be pushed over the edge once again.
And when you can pinpoint that moment there is much money that can be made.

If just by bad news can make the price of Bitcoin fall down fast from high price, it proves Bitcoin not stable and almost investor are speculator. For me, this crash like a test for check mentality of traders on market created by whales :)

It only fell under $4000 on the Chinese exchanges (I believe it went down to $3600).

But on the Western exchanges the $4000 level held and it began to rise within minutes. As long as the $4000 support holds, there really isn't anything to panic about, bitcoin will just consolidate for a few days.

This news of Bitcoin exchange ban rose just because of recent ICO ban. Someone took a benefit of it and spread this FUD. There was indeed an effect of this fake news on the market. I hope people will get some sense and Bitcoin price comes back on the track.

it's still too early to say that, if there was nothing to get into panic, why so far bitcoin has not recovered?

this is because people know that this news can become true and there are many chances of this happening, just be patient and wait until Friday next week to know if the news is false or not

china just banned ico and also not all ico in banned. news that bitcoin di banned dichina is a hoax

Well, they always do that. Even if they say they have learned and won't panic again. If there's situation like this, they still did. There's nothing new, after this they will regret again. They will do the same mistake while others are taking profit.

what are the exact rules for ICO in China now?

hard to find reliable sources specially when one can't read chinese

Yes, there are so many FUDs circululating fabricated for different reasons but I'm afraid in every rumor there's an element of truth. I think China is really planning something which is hidden from our sight. 8)

The bitcoin price is going doing,has it anything to do with this fake news.I think it is because of this bitcoin rate fallen down since last 1 week specially today.