Bitcoin Forum

Bitcoins dropped by almost 500 $ just a few minutes after declaring the Chinese government to stop the operation of exchagers in their country
Do you think it will affect us? I know that in bitcoins but we know that here in china. The people behind the manipulation of the price of altcoins. Is it going to stop?


read more here
https://techcrunch.com/2017/09/08/bitcoin-price-drops-following-report-that-china-is-going-to-shut-down-local-exchanges/

Of course, the manipulations and so on will cease because the exchangers have already stopped working. And because of that, the market trend and altcoins will increase naturally. not manipulations because many people are caught up in the cause of chinese manipulations. So it's also a good idea to stop china running out of the exchanger so we still have good news. The people in the country are chronic

First of all, no. The bitcoin price did not drop by $500 in a few minutes. It was a few hours, rather.

We are floating around $4200 right now. I think that people are starting to realize that this isn't confirmed news by any means. No exchanges have received anything from the regulators, and no chinese exchange is going down at least right now.

It really depends on next week, whether this news turns out to be true or not. If not then we can see a healthy recovery back to $4500. Right now on OKCoin the price is at $3800, significantly lower than western exchanges so we could see another small dip before the outcome is announced.

Ahh classic China again, i think it is just a normal thing. Look what is happened 4 days ago when China announced that China banned ICOs the price fall but the price coming back again to the top and it only took 1 day. So i think it will be same like that, even this news is more big than the last one.

China still has a very large influence over the bitcoin market, there is no doubt about it.

It seems like though that we are making a speedy recovery as the bitcoin price has risen to around $4300 as we speak on all major exchanges. Interestingly all the Chinese exchanges are still under $4000 right now but are on the brink of breaching $4000 once again.

Anyways, i wouldn't worry too much about it. The dump was 90% panic and FUD. Nothing has been done to the exchanges yet, no money has been lost or anything like that. We could recover back to $4500 today, even.

Yes is read the news too and i am surprise that china giving the statement about banning bitcoin. In that moment, i see the price is drop like you said but its just for temporary because after its drop down, i see the price is slowly to increase although its too far from the price before.

But i am sure that this will be ended, the price will increase again and will break another highest price but we need to waiting until people realize that they don't have to be panic selling.

I think its just a hoax and nothing can be said before official announcement from Chinese government. Rather than closing down all the local exchanges they might start investigating like they have done few months ago.

Temporary ban of bitcoin exchange might actually fuel another pump....

Lol, that happened some days ago. Well, I’m not going to say that will affect Bitcoin. For China to ban ICO, means that another country to will become a bigger investor in Bitcoin and will also take over as number one. Well, we can’t really tell, but $500 is a little amount, so it’s making no effect as we are frequently experiencing bouncing back of bitcoin prices. I guess that we never need to worry on fluctuations of bitcoins but we may make use of lower prices to secure more bitcoins for cheaper prices. Other than that, I could not look for any other thing to make use of those fluctuations.

Seems like it was only a price correction.
No need to be panic because the price still around $4200 more or less.
It will just be the same like previous days.
And why everytime price going down always has something to with china?

Now I know the price of bitcoin is pumping up and down because the Chinese government is declare a ban of exchange in their so the bitcoin price in decrease or increase slightly. Yes, it will effect to all bitcoiner's . Bitcoin itself will never been stop just only you use and the exchange will afftected.

china ban bitcoin again ,for almost 15 times ,but still it  can affect the price of bitcoin .hope china ban bitcoin forever ,so bitcoin will move on without china GOV .

I think we will see something like this happen every now and then again.
The bitcoin users who are dealing with crypto for some time now, they do not get affected by this kind of news anymore.
But the people new to bitcoin, they panic and sell.
FUD news will always have an affect on the people new to bitcoin.
Unfortunatelly that is something the creators of that news can count on and make profit from.

We are seeing that even in China, people who are into Bitcoin must also be panicking as they are looking for confirmation for that news supposedly banning all Bitcoin exchanges from doing business in China. When things will get clearer soon then we can expect a good recovery. Now what if it will turn out to be true...am sure there can be a big dip to happen but I am optimistic that Bitcoin can still be strong even without the presence of China. I would even speculate that Bitcoin can be better and stronger if we kick China out.

I'm in this space since a few years now.Even before I had an account here in this forum.
The china FUD is a classic and never seems to get old. LOL
I mean in a way it's obvious why it always works.Because with each wave of new participants in this space there are lots of unexperienced and easy to manipulate and influence newbies around. I guess this will work for many more years to come. The whole market is still so young, tiny and in it's infancy. The smart guys are position themselves now as good as possible to get as much as Bitcoin as they can before it really starts to grow to some serious size, in terms of economical significance and value as well of course. Wouldn't be surprised if chinese government is accumulating as well.

China is a big market with the world's leading population. Therefore, it also greatly influences the bitcoin value when ban bitcoin.
     ( http://www.jinse.com/news/bitcoin/65468.html
China may issue a moratorium on BTC business, not the BTC, which may be the reason for the bTC dump!)
 Like when they banned ICOs immediately caused NEO and many coin dumps. But then can still recover. Bitcoin will quickly rebound - I believe so. China they have many ways to tricked.

It is just a Dip we are seeing, because of the bad news that we are getting now with the china banning thing, but could really bitcoin get drag to far going down? or are we gonna see that it will make it to the $5000 mark value, well for now we keep on seeing the price on a dip, and resisting the price of $5000 right now, all the things we can do for now is wait for the Ocean to subside,

Its not affecting us, china was a mining cartel and they would harm themselves if they shut their own local exchanges.
That is still manipulation and will hoard more bitcoin, dont fall for that in my opinion.

Bitcoin price will have huge effect if China shuts their local exchanges. In one way they want to cut Bitcoin growth in their financial system. This shows that government isn't really welcoming to Bitcoin and would spread a negative wave in the community and there will be panic and as an outcome a decline in price will happen. China is indeed a big market for cryptos and such news will effect large number of Bitcoin holders.

As of now the price of bitcoin down at 4300 dollars but dont worry it will recover again after few days. If china stop using bitcoin thats the effect I think why bitcoin decreased but many country use bitcoin so dont worry . Everything will be okay. But I hope china will use again bitcoin so the price continue to increase so we can see the price of 5k dollars before end of this month and for sure we can make profit.

Even many countries stop to use bitcoin means, the price of bitcoin may reduce. But it will not reduced less than a price of 4000$.Now the price of bitcoin is stable at 4300$.So at first it will not reduce Less than 4300$.It will ever move less than the value of 4000$.

For a thing so serious as china banning exchanges, the price drop has not been too deep. Bitcoin is stronger than I expected and am hopeful it will recover with no harm.

Perhaps it is time to buy a little.

the decreasing of price still reasonable for me although indeed these situations had an effect for bitcoin price itself however apparently China looks manipulated bitcoin price for me too because if there is an issue regarding this country related to bitcoin then the price always be down  

Its just above $4300 but I'm seeing that it will go down and this price will not hold for a minute. Those Chinese are really manipulating the price of bitcoin and banning exchanges will most likely have a large effect that will be felt in the coming weeks. Though OKCoin said that they haven't get any official message from PBoC so for now this is fake news that is making a lot of investors nervous that's why panic sells began. We need to wait what will be the outcome but already is done is damaged causing the price to dip again.

I also thinks that it is another price correction. It seems the market isn't ready yet for $5000 Bitcoin a piece.  Bitcoin needs mor adoption and more cooperation from Chinese Government  ;D.  Though the current action of China is not hostile to Bitcoin, it somehow affect the demand for the said Cryptocurrency.  Lesser Start up project means lesser demand for currency that is used to fund the said project and in this case it is Bitcoin. (ICO banning in China).

I have checked the order books in most of the exchanges. There is a lot of selling pressure, but at the same time, the demand also remains quite high. That means that the investors are quite optimistic about the future prices, and are accumulating the coins on major dips.

Haha. Video from 2014, but always relevant https://www.youtube.com/watch?v=Ry6PpRXk0dQ&feature=youtu.be

PBOC chairmen needs lower prices for buys ;D

Chinese decided to ban ICOs - rumor.
Fact is that Chinese are going to regulate them instead of banning.
Chinese decided to ban local exchanges - rumor.
Fact is that when all the exchanges were asked about the same, they refused that there's nothing like that and the statements have no such evidence to prove its verity. Think along, will they hinder their own economy when they know that they are the ones who hold it the most and need to dump it over others? This was just something made pre-planned to make the prices plummet and make it look like a big decision being took, but the reality behind the scenes is different.

to me i think that is very normal for bitcoin and i am sure that bitcoin price will be increasing in near future i think that present depth is only because off the negative news about china to ICOs but hope that everything will become normal very soon and hope that even China will overview their decision and will remove ban from ICOs.

Price continue to decrease theprice already 4200 dollars . And I think thats the effect of chinese not using bitcoin or stop usingexchanges site. What if the china until now use bitcoin or using exchanges site for sure theprice will increase and they have possible that bitcoin price will reach 5000 dollars. But dont worry evetything will be fine.and bitcoin will increase again without the help of that country.

Though after Chinese ban to ICO I don't think the bitcoin value will drop below 4000. It will surely, soon recover and will again inflate but that can require time and patience...

I think its only ICO and those who are affected are those who are buying ICO not in bitcoin..
Bitcoin is not ICO i saw some tweets that there are some altcoin delisted in exchange in china..
I think bitcoin will be fine back soon and other people will realize and regretting of selling their bitcoin. .

A 500 dollar decrease on Bitcoin's price within just a few minutes is the effect of what happened in China. The stopping of operations of the exchange affected the balance of the demand and supply, mainly the demand. So the price decrease is not that surprising. Even the drop itself is not so surprising, Bitcoin does that occasionally so there is nothing to be afraid of. Things will be back to normal, eventually.

The speed of big price swings on Bitcoin markets clearly indicates that Bitcoin is still in highly speculative state. In traditional markets the price only changes a fraction of percent during the day and day traders utilize leverages to boost their profits, while in Bitcoin leverages may be extremely risky. In my opinion this means that the price can still grow much higher, as we enter from speculative phase to mass adoption by investors and users. Higher volumes should bring volatility down, which will boost adoption and volumes even further.

Well it is not that surprising if Bitcoin drops at about 500 dollars within minutes. I think it is normal for Bitcoin to behave that way since there is an issue in China. Well, regardless if there is an issue or none, a quick downtrend is very normal to Bitcoin since every now and then, correction happens. There is nothing to worry about even it drops 1500 USD.

The entire market just took a pretty hard dip. Actually, there was all the China Banning on ICO stuff a couple of Days, plus the market was indeed overextended upwards. Don't panic. Diversification is key.

If more people enter the cryptocurrency market then eventually prices will be stable because it would be hard to just pump and dump a certain market if it already has a big volume. We are on our way to mass adoption seeing the developments happening to bitcoin and other altcoins nowadays. Eventually, time will come when only a percentage move will happen to cryptocurrencies and while being in the phase of volatility nowadays, we should take advantage of it.

i feel sad for china government decision about the exchange banned for bitcoin, but i feel and i believe this problem will resolve as soon as possible and the china government hoping to change the decission for banning of bitcoin exchange i'm always waiting the new announcement came for the china gov't.

The event will surely have effect on bitcoin and we already noticed it with the dips that happened recently and even until today plus some roller coaster price that swings from $100 to $500 or around that range. BUT just always remember that FUD and events that can pull down the bitcoin price already happened lots of times in bitcoin.

Furthermore, after this events end nor the effect will already lasted then we can soon seen again some tremendous increase and possibility of new ATH.

It is happening the price of bitcoin is crashing significantly and this won't stop i thought of selling my bitcoins at only 10000 but because of this drop i have sold most of the coins i am holding i will buy it later when the price get's  stabilized or maybe never reinvest  if it crashes to the bottom