Bitcoin Forum

Literally every day for the last two weeks since China/Asia started FUD'ing cryptos (again) we've seen the same shit. We north Americans pump it up during the day and they dump when they wake up and we're going to bed. It keeps happening. They release FUD news, everyone dumps, market calms for a few hours, north Americans drive the prices back up by buying at "cheap discount prices" then they wake up and sell. There's a bunch of dummies here who keep losing and they keep raking it in. Does no one else see this? They're constantly selling after we're buying.

so basicly:  Theres a bunch of chinese who keeps losing and americans that keeps on raking it in?

I dont see how this is bad in anyway (if you are an american crypto investor)

No it's the other way around. We buy and drive up the price and then when they wake up and see the price is up, they sell. look at the price of bitcoin. It keeps dropping everyday around the same time Chinese get up and start trading.

im personally waiting for it to drop below 3400 before i start buying, do your graph analysis and it seems like it will be not just me saying this either. marketcap and other crypto channels saying same

In order to sell something you have to have bought it previously? Are you saying they bought loads before and now selling it in increments? That's possible. It's an open market - they can do what they want and if they are doing this they are clever. People will get tired of supports being broken - panic sell and then they will acquire again for cheap.! They are going to have to buy back at some point if you believe in crypto long term.

And another thing if Americans are asleep whilst they are selling then who is buying the top lol? You said Americans are buying the cheap discounted price. Post makes no sense

Who is even telling you to pump the price in a situation like this there are full chances of btc exchanges being shut down for a short time and something like this happens with me i will might surely sell my coins because if it's a permanent ban i won't be able to sell it smoothly. China is planning to make another crypto like teather for chinese exchanges. Plus btc is again not only of NA this is first thing in world americans can't control if you pumped i don't care if i wanna sell i will do it.

This is what Trump refer to last time as currency manipulate and traders should try and understand this. This should not allow to continue and the only people that can stop this are the traders, since cryptocurrency has no central price control and intervention. Chinese and they governments don't have cryptocurrency progress in they heart and the earlier we understand this the better.

Actually you mean Americans buy with cheaper prices and keep doing it in cycles.
That's not that bad man. You just need to be patient and don't see bear calls. Keep holding.

Buy cheap BTC and keep it. I don't think that they forever selling massively on the market, that will cause the market to go down and will not have much profit. That just makes the market increasingly worse. Don't worry, everything will be fine again, China cannot manipulate most of the market

and Price fall down when China have holiday :D

It's good for cryptocurrency market to reduce dependencies on China.

he is not playing us, china goverment just too late to accumulate coin maybe, or they just want to tax every crypto chinese resident has, and maybe since they has a death penalty to who ever doing curroption in their country, they are afraid crypto used for money laundry, and when that money going in to crypto world it is difficult to trace and freeze it.

China is not playing with us, if you think this is just a game then that is in your fovor. Enjoy the game now and buy cheap coins as much as you can.

wtf I am missed. So that's why all is going down. Any predicts for how long? When bottom?

Yeah if we think that china playing us we better be play as a professional as what we played. We need to defeat them or better become more smart than them buy bitcoins now because its too cheap right now it's value

dont you think china affords you a good chance to collect cheap coins?if you are not afraid of FUDs from china,go ahead,you will benefit a lot.

JP Morgan after China is playing games with us.

Guess what? The news may not even be from China after all... There was no official statement from anyone in China.

I've told you this before - banks not China. They are spreading stupid articles and bullshit news around, they are doing only thing they can - cheating.

And why would China want the value of Bitcoin to go down? Chinese mining pools control more than 70% of the Bitcoin network's collective hashrate.

China can walk away and never come back. Store ur $ in good coins and in the long run u are safe. Did anyone see Unobtanium? It keeps slowly rising, even during a crash.

America is waking up.. gonna be massive today

I was a bit drunk when I posted this last night. What I was trying to say is that I am seeing a pattern.

Every evening I see the price of bitcoin and altcoins dropping. Incidentally right as the Chinese are waking up. So I'm guessing they're getting scared by the news that's released and selling.

Then throughout the day we slowly drive the price back up. Some people get in cheap while others who buy in the evening before China starts to dump again get screwed.
Rinse and repeat.

I dont unterstand the people, that sell their Bitcoin long term investments while this FUD. I mean China is just going crazy again, bitcoin is not going to die, just because a small exchange in China is closed at end of september. Remember all the FUD from China in the past. Everytime we dumped hard, we gone up massive after that FUD!
So hold on guys :)

China wants the biggest possible piece of the pie. They closed down one of their biggest exchanges, and they banned fundraising through ICO's. It's clear what they want, they want control over the uncontrolable. If it were a different country it wouldn't be the biggest problem, but it's china we're talking about. They're one of the biggest players in this market and chances are we're gonna be in decline for the next couple of months. Smart people know that the future looks bright, but the majority of investors trade with emotion, and they'll sell to minimize their losses

The future looks bright, but the upcoming months don't. Don't forget that the vast majority of traders invest with emotion, not with strategy. I'm not selling, in fact I'm buying, but most people sell to minimize their losses

The price of bitcoin is dropping 9% at the moment. It seems the Chinese are going to close their exchanges.

some exchange has confirm they will close by the end of September. BTCCC exchange if I remember right

Some people are saying the china doiesn't ban the bitcoin in there, but in other things some exchange site already announced to close their service in the next period and that makes the scenario looks strange about why china already did it.

But you are the one buying the dip, isn't that more beneficial in the future when the price of bitcoin pumps back up. You will have more profit than the Chinese dumping their bitcoins now.

I feel bad for newbie chinese investors, they lose a lot of money from FUD. While most of us are taking advantage by making a short position. Some are buying from the Bitcoin dip. The key from winning in this battle is learning how the crypto market works.

i Have found first information that the first china Exchange will stop trading...

https://twitter.com/YourBTCC/status/908285586368167936

I also think thats a way of handle ico perofrmance for them..

thanks tux

Newspaper snapshots on Twitter. The statement from BTCChina seems authoritative.


$ 3400 seems low, there is a resistance at $ 3500 allready building up. Charts cannot move that quick.
Regarding what to buy I'm watching this board, and which coin toppics stay up next days. Seen Monero, Ripple, Waves just now.

I'm meself pretty much tired of these bullshits floating around me, China tbh is definitely playing with us, not saying that china in general but the traders in China, creating panic to take advantage of us and our people with their stupid instinct just blindly believe whats going on, such unfortunate the market has now been affected, nothing we can do.
guys, pls reveal how to stop these bulshit so that it's not going around in my head.

I think by tomorrow we will be caught up with the dip China is seeing. Their exchanges are trading around $3100. If you think about it we were at $1700 only a month and a half ago. Even to fall back down around that price wouldn't be too shocking to me.

when and what could be the bottom?

How is China playing anyone? There was an American Billionaire investor who literally called Bitcoin a pyramid scheme the other day. Bitcoin also first went from $1k to almost $4k in May/June, dropped to $2k and then rallied to $5k again. Of course the price will retract, or did you expect Bitcoin to keep climbing nonstop to $1m?

Wow! This is exactly what I've been speculating for the past few months!  They're reaping profits off of us big time! It's all a mind game they're playing with us and up until now I thought I was the only person that was thinking this.

I strongly agree on OP's statement

Chinese people has one problem with them, emotions.

Most chinese only look for short term profit, fast and easy cash. Therefore when FUD happens, chinese is always the first one who dump on everything.

Source : I am a chinese, i know how chinese works x)

It's not FUD anymore, Chinese exchanges are ceasing operations, Chinese holders are cashing out before they aren't able to.

Probably there will be a license and regulated Chinese exchanges in the future, for now price will go down as Chinese holders dump their coins.

Well the chinese ruined the party.  Im not going to eat chinese food this week
Maybe next week on the afterparty.

Most people look for short term profit, period. That's not exclusive to the Chinese. And it's not just about monetary profits either. The vast majority of humans only think and live in the short-term, which is why they have so many problems and why depression and suicide rates are on the climb.

If you don't think about the future you will inevitably get fucked one day and that's exactly what is happening world-wide.

what chinese gonna do tomorrow morning

China closed a large BTC trading platform today, so the Great Falls

China is play is to us is such an idiot because they trying to stop the nonsense but this what they are now altcoin and bitcoin is widely spread in the world if there is change to fight. But they will not stop the altcoin as well bitcoin itself.

So you confirm his opinion. If they keep selling high and buying low it's them losing on it.

Regardless, BTC and ETH lost much more ground on chinese yuan than we did on USD, so by your logic it's them losing.

While I believe that some shit's going on in China and there's definitely some truth to some exchanges alting their fiat-btc exchange there's still nothing official.

I keep accumulating bitcoin tho, and I don't care much.

Based on what happens, BTCC closed down causes the first dump.  If Major bitcoin exchange is gone, i would say 80% of the chinese will dump on their coins

If you follow the china scene, there's a huge stock market rekt previously. What causes it? Trend followings
It work like A bought stock Z, A earn some money. B saw it? B bought and told C, C then follow.
In the end, when you ask them why you buy stock Z? Majority of them have no idea what they actually buying.

This is also why China is heavily regulated on cryptocurrency.
If you can actually read, go look at the china scene cryptocurrency. I have a friend, where he tell me he traded cryptocurrencies on a china platform, when i look at the exchanges. Most of the coins listed there are just HYIP, Scheme coins, those coins does not even have a blockchain.
Then i ask him, why do you buy that coin? (Random Coin), he told me : someone tell him that coin might raise soon. Everything is based on : Listen to others

What do you guys think is going to happen to NEO?

I personally have no faith in NEO. I give it max $30 in the future, but no more.
Regarding whats happening right now, it will continue falling in the $8-$10 range.

checkout the latest tweet from Charlie Lee

https://twitter.com/SatoshiLite/status/908375715279597570

Would this turn the fud around?

i think this adds fuel to the fire.

without any prior communication from chinese regulators it is unnecessary to meet them. we ll find out tomorrow

drop back to 15, china gets it shit together whilst general interest grows, value goes back up to around 25-30 within 2 months, positive news from china brings the value back to the high 40's, small retraction to 30's, ico's are legal again in china, coin goes to triple digits but drops back to 80. More and more interest and a collaboration between neo and a massive enterprise like microsoft or alibaba catapults it to 150$. In 5 - 10 years neo will be 500$/coin and a market cap of 50 billion

and finally i woke up

Haha :p what do you think is gonna happen? The reason I said what I said is because the market is clearly bearish right now. It's supposed to drop a little more. Second, NEO is forming a flag with support at 15$ (give or take a few $$). Also, China is still cracking down on ICO's, which usually had NEO as its funding currency. Still, the overall interest in crypto seems to be growing, with everyday working class people considering investing a few hundred bucks. This will only grow whereas China can only regulate things in their own country. Eventually, the market will start to pick up a bit, taking neo with it, up to 25-30$. At this point (probably Q1 of 2018), China will have regulations in place surrounding cryptos, so the market will see a rise again, bringing neo back to 40-50$. At this point a lot of investors are gonna cash out, bringing the price back to 30-40$. We'll see some more ICO's happening, including some regulated in China, and some listings on big exchanges like coinbase, poloniex, ... bringing the price up to 100$, where a lot of people will be cashing out again. At some point in time sooner than later, Neo will be working with a big company, because neo is faster, more versatile and more secure than ethereum. This will boost prices up really quickly.

You say the very right thing, china people are too much in this world, and I know how they aim, the things they do are very predictable, but some people panic with this issue, I advise not to sell your coins, crypto it casual

When you sleep (North America) is when China sell Bitcoin and that makes the Bitcoin dump strong, after efforts to push btc prices up by everyone. It seems that China knows the FUD information before and plays us all ( not only in North America alone). I guess they want to try to make the btc value as low as possible so they can buy cheap btc. That's bad! Hold your position. China can not manipulate the entire world market.

I think it's a good thing for those who were waiting for a downstreak to start buying cryptos, like me. It's a decentralized market, so even if China want to try to regulate it, they would only be able to do it on their soil, so it's just a bad thing for china people (like with a lot of China's government decisions).

Good times for us to dip though, I wonder how long would this price drop, perhaps the 2.7k - period where China are not seriously involved.

buy in on the dip. times will get better again.. after the panic

I was thinking 2.7 as well cause there's decent support

I was expecting crash for the fall, i think it was even foretold by Goldman Sachs. They are pretty accurate with their forecasts:

Smart thing will be to figure out how chinese people are going to move their money from exchanges. I dont believe they are going to cash out and say "well it was good run but now we going to abandon 100 billion market and go back assembling iphones and plastic toys". All their assets are going to reappear somewhere.  Regulation will stabilize market, but nothing can really stop it.Except may be from AI that will awake and say "I have better idea"

This correction is a great buying opportunity. BTC, ETH and many other top coins,
all are as  deeply oversold as the Late July major bottom with RSI touching 30.
Bottom should be very close.

The crypto world this type of news may shake, but never break he can't . After a short time will rise.

You are saying that you are buying and chinese are selling because you pumped price?
Then you should sell and wait for chinese to drive up the price.

Chinese government started to ban all ICOs. Caused the price to dip. They again trying to ban all local exchanges and investors are now trying to exit buy selling all their coins thus the price falling down.
We need to wait for a while until everything calms down.

In re this thread's title, I'd say that Jamie Dimon and his ilk are also playing us - Jamie came out on two consecutive days to diss bitcoin causing it to drop, while during the exact same timeframe, the legacy stock markers climbed. What are the odds?

I'm pretty sure that Jamie's daughter is currently in the process of stockpile bitcoins on the cheap.

China is now really playing some kind of its game on lowering the rate of the crypto currency. Perhaps this only coincided in time, because there are really objective reasons for tightening the ICO measures and they are ripe. But what is behind the closing of crypto-exchange exchanges, we'll see in the future.

They want control and a large piece of the money-pie, that's all

Bitcoin price trading below 3000 in chinese exchanges. Are we gonna see the same in other exchanges too?

No. Chinese exchange prices are always low

From one side chinese gave us opportunity to invest more on lower ,from other side who knows what will happen next,and will our already bought btc/alt coins be able to recover in nit that far future.A lot of work to do because of them

Even, he is enjoying his profit from Bitcoin now lol ;D. Just a word by him can makes the price of Bitcoin crashes much, wow I do not think China cannot equal to him. A country just makes the price of Bitcoin drop value ~$200 - $300, but the word by a CEO of bank can drop higher than $1,000 of Bitcoin ::)

China is trying to control capital flows. That's why the crackdown on BTC exchanges.
For them, it's a logical extension of all the other currency controls that are already
in place.

Frankly, I'm surprised it took them this long. Bitcoin was one of the prime
ways that Chinese could move monies out of the country... pretty much in an
unrestricted way. And largely untraceable.

Capital controls is their main motivation. The effect on the price of BTC is pretty much
unimportant to them.

I don't see any rise right now but instead I'm seeing a bloody fall and its bit alarming for continously seeing this since seems there's no since of pump I've seen for now and maybe we can experience more dumping by more people around and this is so bad since I don't want to see bitcoins to reach for 1k$ again or even more down.

Add friday factor to it. there will be more bledshed. better to buy USDT?

yep its not even weekend yet....
if things keep on going down till sept 30 which is when the exchange will stop, its going to one heck of crazy bloodbath hahaha

Seems like we need a strategy to move over BTC. Find Alternative market supports which can hold market when BTC is bleeding every day or two!

Someone got money, Someone lost money, no matter Americans or Chinese. :-\

China ban might be a good thing.
Chinese mines about 70-80% of the world's bitcoin(almost the same on other cryptocurrencies),
and they hold them only for speculation.
After Chinese government shut them down, all cryptocurrencies can be distributed to other countries more evenly.

Sound observation, but for now we all have to survive this bleed out

so why do you think this will happen, is Chinese government foolish enough to give up the profit they have got? maybe China will close the current mine, but there must be new mine open

Because chinese government hates BTC and Cryptocurrency,  its the one thing they ultimately can't fully control. Person in authority is feudal way of thinking.

Exactly, they haven't figured out a way to get the most out of this market so their best plan is to try and shut it down all together

maybe the government thinking that to shut down all market together will solve their problem but i don't think this will stop people from using bitcoin and even people will trying to find another way to still used bitcoin. their government maybe afraid with the crypto currency power and they thinking that in someday crypto currency can fully operate in offline and online world.

Not at all, but they're acting like dictators who feel their power slip away

China enjoys the power, and the nature of the rulers is to subdue its subordinates, so it is only natural that china will play us

china will lose this game because crypto can not be regulated. this is actually what makes crypto

China manupulate all markets.i think this all thing is some of rich chinese peoples decision.Dont panic,make your moves wisely

It stops now. China won't be manipulating anything anymore, this is good news

In the past China has banned Facebook, Google and Youtube. Would you have sold in panic if you had stocks in these ? Same scenario here.

It's just a shame that China is pretty large and a ban of cryptocurrency affects a lot of the world population.

Yes China just Played the game
rich people from china want to buy bitcoin at cheap price, so china deliberately made fake news, then everyone in the world panick sell >:(
and see now that they've got what they want, the price of all the coins starts back up

you know what is funny? its not even the first time they are doing this, they have done it before, many times and we still fall for it!

china is a huge market they can change the shape of bitcoin prices as they shown a power last 24 hour i might felt it will have another break fall for bitcoin to go back to 3000$ by next 2 day
Thanks
Regards

maybe the rich people are really doing so, but the news is not fake, and i think the back are only a few days, maybe till tomorrow, for most people in China can not buy cryptos later

China plays a lot with crypto market. Take the case of BTCC exchange owner. He sold his Bitcoins at ATH and spread a panic that he will be closing his exchange by the end of September where there is still not any official announcement by Chinese government. There is still no clear indication but media is propagating this news as it is true. He created panic and took the advantage of buying back his Bitcoins at $3000. This is how a bulk holder plays with the market.

China is a laughing at us if you think that cryptocurrency cant be manipulated then think again. They sell and buy it again at low price its a win win so many rich people in china that can do that  :D :D

It CAN be manipulated, but from time to time, the effect of China FUD is mitigated. First time China ban BTC, the price drop around 90%. This time, only 30-40%. And this time it was attacked by both China & JPM.

A sign of market maturity.

im pretty sure china holds enough of US debts in trillions to buy bitcoin at a premium price.

I dont think anyone plays, whale probably sort it and we buy it.
It is also FUD, I think there are many think to make people worry about crypto now, it may be better early next year,
people needs to cool down probably after big pumping/sorting

It seems that this is a game of a handful of Chinese elites who want to destroy Bitcoin, or China doesn`t want their altcoin rivaled by Bitcoin, because I know China is the King of the World Market for now, so they do not want or refuse Bitcoin to be a successful altcoin, do you remember this saying "If other people can do it, I also can do it" This is the principle of a greedy elite

There is no need to worry about it. Without the fraud in the Chinese exchanges, the bitcoin and bitcoin cash or other altcoin price will be more stable.

and because it's gonna be better next year, nows the time to buy when markets are low

As the one of the bitcoin  house and it seems china was holsing the important role to the bitcoin market even crypto currency itself. Why you call china as the fraud? is there a something wrong with it?
Because a lot of people just saying about the manipulation already did by the chinese exchange site and the goverment.

It possibly China play this game in order to dump the price and buy later cheap! They may understand how important is the BTC and other coins and make this for profit!

Well who knows this could be the actual thing where they would have just booked the profits and sold the coins due to which the market fell for few days and now they have started buying back the coins and may easily again in coming time book the profits. It would be millions of dollar in profits in just few days they could easily made it.

I don't know what to say to you. Looks like China makes money on decisions and pumping of North America! Seems like it is really so. Must be we should to expect a new drop of the price after it's pumping this morning after huge investment into crypto-currency from the side of such giant as JP Morgan.

In the next three days, all the Chinese exchanges will be closed. So no more manipulation.

China, I suppose, is cheating us
they are attempting to control crypto

It will probably be temporary to manipulate prices again. There will be a mass dump, and then they will reverse the decision after buying up lots of crypto to see it pump again