Bitcoin Forum

The Chinese government has banned some Bticoin exchange. is this the cause of the Bitcoin price down?
if it is true I think China is a country that can control the price of Bitcoin.
what do you think about that?

A simple sneeze from China can affect some of us. When the news about banning ICO in China, the price of bitcoin went down. Now a news about banning bitcoin exchanges, the bitcoin price has gone down as well. Maybe the next news will be banning the bitcoin mining in China. Any movement from China regarding bitcoin somewhat affect the market. China is the second largest economy in the world and most Chinese are successful in doing business. Yes, there is possibility that the Chinese somehow can control the crypto currency market.

Yes, its true that china has given reports about planning to shut down local cryptocurrency exchanges. They have not banned any yet. But yes this news has been affecting the value of bitcoin for a while. And yes why China is a major controller of cryptocurrency considering the fact that it has a booming economy and a lot of investors there had bitcoins. But I still feel it is a temporary setback only.

it's just fake news.
it's all just a game from big investor to make everyone panic selling, after panic selling happens their chance to buy bitcoin prices at cheap prices. LOL

did they really?
i can not find any reliable sources about this. only the shitty news sites.

on top of it the Chinese exchanges all released statements that they are working fine like before!

so where did you get this from? LOL

no, the reason is idiotic panic sell

i think you are reading a lot of bullshit online and mostly from these shit news sites. and i think you need to stop it and start using your own logic.

of course china can do, any big country can effect to finance market

Thank you for giving me an answer.
If Bitcoin's price decline is only temporary, now I ask your opinion, is it time to buy Bitcoin at a low price?

Yes the Op is partially right China is acting naughty again, how did you not find it. Here have a read.

https://www.google.co.in/amp/mobile.reuters.com/article/amp/idUSKCN1BJ1US

Even on Facebook I found many links that say that China has banned exchanges, but as of now there is a rumour it will, and that's caused panic which may have resulted in heavy sale. So far the exchanges have not been banned, let's assume it is good only, tired of this China stuff, every time they sneeze my coins loose their value. But if one sees through the stupid titles those links say Bitcoin is banned but so far nothing has happened.

yeah how many times have exchanged been banned in the past?  all to get clean out weak hands

the keyword that you missed in my comment was reliable.
the link you posted here is just saying because of reports on this news says that. doesn't say China has actually done it. and those reports are mostly FUD and exaggeration of a real news.

r e l i a b l e !


LOL , yeah. i am tired of it too. i hope they actually ban bitcoin so we can have 1 dip and be done with it forever instead of every 2 months.

this news is really circulating around the forum and people panics that's the reason why the current value of bitcoin is really on its downfall but considering this
is just another news that will be forgotten or will be resolved so in no time the price will surged up again and those who waits and holds are the one that will
benefits and those who sell and panics will cry out lout after.

China has been one of the biggest players in the bitcoin market that's why if China banned bitcoin exchanges even if it is just some of it, this will really have some effect on bitcoin. The price may even go down further because of people doing panic selling.

- Haven't banned yet but there is one fud with this news, nothing has been announced officially.
- Yes china have big influence in bitcoin market but it is not as much as it used to have few years back.
- Just buy bitcoin whenever there will panic sell like this one.

I also heard that Chinese government banned some of bitcoin currency. And it is affecting the price of bitcoin.You are right, if there is any power to control the price of crypto currency, China has this control power.I don't know when wil everything become good.

PBoC have supposedly banned bitcoin in 2015 and for a few days, bitcoin's price took it's turn for the worst. PBoC then reconsidered and lifted the ban, and the trading prices went to nornal again. If there's something that China can do, it's their trading volume which could affect Western exchanges on a negative side. One false rumor in their country could bring a devastating effect in terms of bitcoin price.

Maybe not control but some sort of influence since I think China wants their people to get out from the cryptocurrency market as they are possibly viewing cryptos as competitors for their national currency and they are not sure how cryptos can be affecting their growing economy.

China hates something they don't have power to control of...this is the big reason why popular sites like that of Google, Facebook and Twitter are banned in China. So the question is this: Can cryptocurrency survive without the Chinese market? Maybe the answer lies in looking at those companies banned in operating in China.

It is a report from Caixin. It is not actual government announcement.

It could be false rumours for all we know. At least the market thinks so right now because of the fact that we are already on our way to recovery because we are up $130 a coin from the low of $4120~ on coinmarketcap. Currently it's $4250.

Just take into consideration that all the big chinese exchanges has said they haven't received any news from chinese government that rules are going to be changed from now on and they will go out of business. None.

CHina has the second largest market of cryptocurrency. The 70% (PBOC) Peoples Bank of China is owned by Chinese Government. Though not yet confirmed, the China is planning to ban all exchanges as per the Ceo of Bitcoin Exchange in China. This is another bold move of China in crytocurrency just within a week. This had affected the price of bitcoin dropping to global market. I hope that they are just banning scam ICOs not bitcoin.

maybe its true because we know that china has the big power in mining and with much of bitcoin they have, they can easily to control but i really don't know. Maybe this is why bitcoin price is drop until deep price but fortunately the price is back to go up.

I see the price is fallen because bad news and i think many people in the market is panic selling and makes the price is drop.

I guess it is fake news, maybe spread out by china or by missunderstanding. Fact seems to be thaz the exchangers still didn't get any feedback by government.

Always be careful about china guiz even if this news is real or not China have the power to make bitcoin go up or down in value cause you know they are one of the biggest player in cryptocurrency. Try watching videos about china or read articles and you will know that the government in there are crazy and very corrupt. There is a law in china that limits people to how much money they can take out from china and as you all know there are many millionaires in china mostly corrupt that want to take their money out in china and 1 way to do it is by using bitcoin. If many people use bitcoin to take their money out of their country surely the government will notice it and they will do what it takes to stop it.

This can be true because China holds the largest volume of bitcoin and there are many transactions in China. If this is true, then might be the cause of the great price deflation of bitcoin and this is not good for all of us.

yes indeed china I think is a very big country for bitcoin development so it could be the cause of the current price is still low but more importantly other countries do not participate in the prohibition of ico in their country so we can still earn income from various projects that still exist to the future.

China making a move to completely ban Bitcoin is related to why the exchanges were taking a tumble, but they weren't as dramatically affected by the event as they could have been if there was a more aggressive stance or more invasive action that was taken against it. And China is far from controlling Bitcoin, they just had a lot of exchanges and people buying. Soon their market share will decrease and they'll have as much influence as the US as Japan and SK experience more growth.

If there is a smoke, there is a fire. The news is not totally false but it is a fabricated one. China has not banned any exchange, not yet. One of the Chinese journalist also said that they have not received any shut down notices.
China is planning to resume ICOs and now this banning of exchanges means, they are just trying to get control over crypt coins in their country.

This means someone had a reason to spread fake news. Once they got wind of government action they made sure it gets to everyone and causes panic.
I bet they're now happy with their cheap coins and laughing at us here.
Forget about news from China. It's not the first time they are trying to manipulate the price this way.

notice that too mate they just trying to see if they can really control it and this issue about banning exchange is not yet been proven its another speculations
that bring panic to those who doesn't understand the point of Chinese government about requiring the ico to be well handled.

If China could sneeze and the effect could be this massive, I wonder what will happen if they cough then price will catch serious cold and that tells us the dominance that China has over bitcoin and they are excercising it to the fullest and I expect that other countries would do same if they have their own opportunities. Let Chinese government enjoy it while it lasts.

This is no longer the case. Earlier this year, volume on the Chinese exchanges drastically dropped after the government audited them. Now, we see that Japan and the West have much more influence on the market (at least according to volume) than previously thought. Trading volumes are much more distributed throughout the globe now.

It's true, though, that China is extremely relevant to Bitcoin mining and ASIC manufacturing. That hasn't changed, although we are now seeing Japanese companies enter that space as well.

Well bad news will be bad news and Bitcoin is not immune from it. Anything that acts as a catalyst or a trigger to start a trend will be taken advantahe of people who seek to take profit especially the big players, when they see news like this it signals an opportunity for them in which they sell of their load at the peak and then fish out at the bottom, the most sad part here is they get to maximize the profit while the others are in their mercy.

Yes this is the law of commerce. Both offline and online trade, both equally can down if there is bad news coming. Well, I do not know why China to ban many ICO and Exchanger.

Read in the news. "The ninth of September, the state newspaper Caixin published that the government of China is an ongoing debate on the question of suspension of activities of the bitcoin exchanges on the domestic market of the country. Three bitcoin exchanges – the largest in China (BTCC, OKCoin, Huobi), said, confident that local regulators will not ban the trading platform. Head of strategic planning Blockstream and expert on cryptocurrency exchanges Samson MOU explained the situation. According to the economist, the statement said publication can be false, as for him not standing any reliable source. But many analysts believe that the edition had inside information obtained from government agencies."
I'm leaning towards the worst case scenario. China can realistically deny bitcoin in the country. and it will be just a magical event in the world of cryptocurrency. Shatter the myth of decentralization of cryptocurrency. And credibility just simply disappear..... Who can guarantee that you and your country authorities will not come to this decision?)

Firstly if you look into comments generated by spokespeople from BTCChina and OKCoin you will see that none of them have any indication that their exchanges are actually going to be shut down any time soon.

It would be logical for the chinese government to notify them to close down business if they were planning on doing it in the near future instead of telling a news outlet first, don't you think?

China does have a large influence over price, but this influence has diminished as trading moves to p2p. No single country has control over bitcoin prices, no matter how much volume they generate.

Upon hearing this news last weekend the first thought that came to mind was whether this story is credible or not. There's been a lot of negative media propaganda against Bitcoin in the past and I thought this was the same and as it is turning out it seems I'm right because the story is not adding up.

Even now the scenario is in a dilemma, no conclusion has been reached as the Chinese regulations were not revealed by a specific authority. Maybe this could be an inspection, because in the past once an inspection was made over different exchanges during which some exchanges went offline few days.

I do not really agree with you. really the decline happened this end, I think there is influence from china. but only a few. will not be long starting from now, bitcoin will be pumped back.

yes the cause of the slope occurs is from the china ban on ico. but I do not think this will be long, it will pass. I'm optimistic bitcoin will be in the pumps in months to come.

the effect of decreasing the value of bitcoin and altcoin is the impact of Chinese country customers. can not be denied China became one of the countries involved in bitcoin.

but I believe crypto will get bigger because of it. because bitcoin has been so frightening for some countries.

price of bitcoin not controlled in china affecting the price indeed had been going on China has announced the killing of bitcoin which is where bitcoin is innocent happens rumbling in all markets responding to china

I think this will cause a temporary price correction but mainly its just FUD. Its just the young crypto industry over reacting to news (like always) and in due time things will go back

to how they where originally. Also, just because China has banned BTC or trading of it, does not mean that there wont be demand for BTC still in China. I think we be ok in a few weeks

from now

The cited report did not even suggest banning BTC or cryptocurrencies. In a way, the alleged directives highlight the decentralization of Bitcoin: they can only prohibit fiat markets and fiat gateways.

They cannot stop P2P cryptocurrency trade, and the report seems to openly acknowledge that. Okcoin, in response, said, "If the report is true, we'll stop BTC/CNY trades & become a P2P platform for digital assets." https://twitter.com/cnLedger/status/906461180415197185

The authorities prohibiting the use of Bitcoin was always a tragic scenario for quick mainstream adoption, but not for Bitcoin itself. I think we are past the point (in terms of legitimacy) where one government prohibiting its use really matters in the long run.

I think these are the first steps to centralization of bitcount, and full control over it.

Today bitcoin growing slowly it is clearly showing no country or authority can stop bitcoin . Bitcoin will grow and hit 10 k mark soon . Ultimately Chinese will be the looser.

Its more of a lost for them not ours. I don't know what the feeling of a Chinese bitcoin enthusiast by now. The bitcoin they all loved was suddenly shutdown by their government. Its just sad though, but life must go on and bitcoin has already recovered and we can see the price is $4300 now. This really proves has resilient bitcoin is and its possible that it can go even further if the bitcoin train has just started its steam. We don't know when is the next stop. Maybe $5000 again?

I dont think so usually chinese government makes sure that they has control over most of the things especially  the financing institutions. If you tries to get away with it ang get caught they will probably can close your business in return and that is for sure

The Chinese market has a huge impact on the Bitcoin market and today the trading volume of this market has fallen by more than 50%, making Bitcoin prices continue to fall and it will certainly be difficult to reach the $ 5000 mark in a while long time.

They do really love to become superior on most things on which they do like to do the things which they saw that they can able to show their power globally and now they do made such actions regarding on those banning either both exchanges and those ICO's. I cant deny that they can really affect the price either on bitcoin or on other altcoin too but i can say that they are not the only ones who do have the power to make it rise again.

Sorry but.... what???????
When did this happen? Unless you come up with a link (and not some shitty twit or blog) this is pure FUD or trolling.


No, actually the impact is getting weaker and weaker.
After the whole trading volume scam has been exposed people have started to understand that China is not so important after all.
The last time they managed to bring the price down by more than 50% right now ll the fud has barely managed to shave 20% and the price is going back up.

People realized that most of what China does is just trading, no real usage and real BTC users and owners there.

China won't allow other currencies since what I seen on their Alibaba and Aliexpress that is depends upon their own wallets. If Chinese Govt allowed bitcoin on these two top E-Commerce sites then their would be a lot of difference in Bitcoin.
China is the only country that has best rules in world as they even blocked FB, Gplus etc.

may be. but a few days ago I heard that the Chinese government did such a thing only temporarily and only to control the activity of bitcoin and altcoins.

Mining and ASIC chip manufacturing aside, you may be right in the long term. As for the short term, we may not have seen the full effects of the rumor and potential exchange ban yet. Down-trending markets tend not to crash right away; they tend to bleed slowly until momentum builds into a crash.

If this is anything like 2014, then we haven't seen the end of the effects of these fundamental catalysts yet. I'm still holding out some hope that bulls can hold the $4,000 area and we can continue building a base for another wave up, but we need to keep an open mind here.

In fact that's all)
The government began to sound the alarm)) and tries to strangle bitcoin worldwide)
"Cryptocurrency exchanges in China ordered to stop the auction and to notify users about its closure. New user registrations have to be halted as of Friday, September 15, reports "Lenta.ru" with reference to Reuters. By Wednesday, September 20, the exchange shall be obliged to inform users about how withdrawals and to protect the interests of investors.

"All exchanges have to midnight 15 September to publish a notice on full stop trading crypto-currencies and the termination of the registration of new users", — reads the statement of the authorities.

As recalled by "lenta.ru" on 13 September, the head of JPMorgan Chase James Dimon called bitcoin a fraud and promised to fire employees for operations with cryptocurrency."