Bitcoin Forum

BTCchina released a notify that it will close all the trade on Sept. 30th. Then BTC price on this platform was down less than CNY18000 hurriedly.

I saw the tweet, it seems to be confirmed already:

https://twitter.com/YourBTCC

The good news is, it cannot get worse than that. The news are finally official, at least one of the big Chinese exchanges is down. Then so what? there's nothing beyond that. Sure they can keep banning every single exchange on China, but the damage will eventually be all absorbed by the bitcoin market. We already saw the only exchange on earth back then (MtGox) going bust, we crashed heavily, then we recovered. If we survived that, how can't we survive China banning some markets? we have exchanges all over the world in 2017, so who cares.

This crash can be seen as significant if you compare it to the recent market price movement but it's nothing (or nowhere close yet) if you compare it to just 3 months back!

the price of bitcoin will dip down to 2500 usd this time, please dump your bitcoin for the btc marketcap will dip down to almost 20 M. give yourself a favor. if you have some bitcoins dump it including your altcoins, this one is going to continue dipping until china decides to announce again about unbanning btc.

to be fair the "news" was that China has banned bitcoin which has never been true. they have closed exchanges which have been doing illegal stuff as earlier this year we clearly saw it.
they tried regulating them but apparently they have failed to do so. they probably try to do more regulation of exchanges though.

and also they have never said trading bitcoin is banned or anything.

We have to deal with the crash !! China banning exchanges hit Bitcoin in a way that made it's value decrease a lot. who knows, half of it ! And I don't thnk it will increase before November. So if you are in panic mode, sell them or hold them till the end of the year as I will do !

if that's the case, then bitcoin has a pretty good outlook for the future in china; if the chinese government does indeed implement stringent policies on cryptocurrency exchange regulation in the future, that only serves to further the security of cryptocurrency trading in that economy, and we could be looking at a pretty solid price spike as a result in the future.
to be honest though, im getting pretty sick of all this price fluctuation resulting from news out of china, i was sure bitcoin would rise again from 3800 usd after yesterday's events, but looks like im down a few bucks from what i bought yesterday. no worries though, i've full faith it'll recover in no time. still, it's tanked to 3500 usd at the time of this post, thats still shy of 10% but a pretty big impact nonetheless.

That was a sensible reply. You are correct.  News like that is purely sensational anymore.  The slight dips will happen and they will come back stronger.  China regulating means money honey.  Lots of it.  Bitcoin will be worth 6,000 usd by mid November- I would bet the farm on it.  If I had a farm. Lol

Then the crash is because of this news because when I also checked, I realised that what is happening is massive and the FUD is getting real but at the same time, its still not something that would shake someone like me as this is going to be the worst of all events that have happened in the life time of bitcoin.

People in China who are selling are doing the exact wrong thing: China wants to control their money to control their people. By panicking now and getting back into fiat they give up the freedom from the communist party. If anything, they should be buying more because it won't be long before they see the value of their fiat inflated away.

The Bitcoin price crash is somewhat a good news and at the same time it is also a bad news. Bad news in a way that some people needs the high price of Bitcoin because they depend on it for their earnings. If Bitcoin crash, they will suffer in a loss of fund in a short while. However, some consider this as a good opportunity to get on board. It is the best time to invest some money in Bitcoin since they can purchase more coins at a lower price. So regardless who triggered the price crash, if it is because about the issues in China, nothing is to be feared since the price crash is beneficial for Bitcoin.

The price can crash a bit, however i am increasing my btc, via trading, at the same time in order to maintain $ value.

It just got a lot harder that's all.

Please Stop spreading FUD that might get the price to a even worst situation, if you don't have something good to say just keep it to your self, I think that even if china would do something this rash I am doubting about the banning of bitcoin in their country it is like very unreal to me,

Yes, they didn't ban any coins but only trading exchanges. This news surely will create a panic in many new Bitcoin investors, but all experienced Bitcoin traders will never sell for losses instead they will buy it now and wait for selling at higher price.

I think all these developments happening are for good because I think Chinese soon or later come up with good regulations to trade and they can minimise all illegal tradings. Whoever wants to go for long term like next couple of years time then this has given an excellent opportunity to buy bitcoins, and other altcoins at lower prices don't miss it.

Finally a concrete news from at least one exchanger. I have heard the government gave to all exchangers the period around four years to close their activity. But this information wasn't proved yet.
All this situation is affecting on the bitcoins price and panic are getting people to sell their coins, but I agree with you - if China will close their exchangers we gonna have thousands more around over the world.

Yeap Bitcoin has tanked and is going down like 100 dollars every half hour so I see BTC going to around 2k or 2.5k and again the Chinese make our marketcap go to pots. They did it last time and they did it again. It's cool, when BTC goes down more I might be able to afford to buy a whole Bitcoin and if it goes up again then I can make some overall profit. Now it's a bad time to panic and sell anything. If you are holding bags best to hold now for the long term.

And you would end up on regretting on selling out all of your coins on losses and when the price bounce back for sure you would murmur. haha. but well its still wise to sell on these points specially we are on profits then it should be fine and buyback anytime when the price hit on the possible bottom or support.I do really have the feeling we do reach down again on 2500 price point which is still fine for me because we did increase too much on this year which price corrections do happen specially on some big news made by China.

Anyone think other countries will follow suit in banning the exchanges?

If that is the case then we have nothing do with that. That scene will really have a big effect on bitcoin price.

But always remember that bitcoin is long term so eye for long term goals. Others might be hurt with the price decrease that is happening right now but we are used to experience this kind of crash and eventually the price will be leaped again. This is part of the risk the moment we entered in this kind of world.

We just have to keep strong hands, this kind of dump isn't good but the price will recover. We've seen this kind of thing before & we'll see it again.

Depends on how much you bought those coins for. I would not sell any coins at a loss, but I would buy more at these low prices.
This situation is just temporary, we just have to wait and see, any sort of positive news could send the price up again.

The graphs are looking quite scary now, but give it another week or so before taking any drastic actions.
I really don't think that selling is right here.

STEADY, STEADY, HOLD HER STEADY BOYS!

The ship is rocking!

It's time for preparing the crash, this time it's going to be huge, the Bitcoin and alt coin users from china are a lot, so the price going to plunge down deeply, and be prepare to buy back, the China's government decision is only going to hurt the coins a while after that it will begin to heal and the price will going back to normal but the recovery time perhaps going to be longer

Go away with your FUD, chinese asshole.

It's not FUD anymore, it's an inevitability at this point, plan accordingly.

China was one of major countries by volume, lot's of holders and they will cash-out now.

India could follow next. They have announced about plans to create a Government controlled coin.

Yes it is. Have you ever, in the over 8 year long history seen BTC not recover from the 1.000.000 FUD attempts? Have you seen BTC not recover from fucking chinese people wanting to "ban" BTC for the 189th time?

No? I thought so. But please fall into the panic and sell. THIS time it MUST be different. As if anything would significantly change if you plan ahead more than 1 week.

That is definitely catches my breath, reading those negative feedback seems to worry me for a moment at it touches at 3500$ now but your right this dip is normal for what happened about the increased last August it just nothing. I live one day not to make the exchanges for now, hope things will got to go better tomorrow. Thanks to this.

I think that banning of bitcoin in china affects the price of bitcoin. But i think bitcoin can recover again from that crash, just trust bitcoin. And after that crash in price of bitcoin, it go back again in its higher price.

China's decision in banning BTC will rock the marketcap for sure, but that does not mean we need to stop believing in crypto coins..."au contrair"  we should take this opportunity to unite and take profit from this change.
Price will drop = buyers from other countries will wake up and become interested to invest in crypto currencies... logic reaction = value raise...
If everybody starts to panic sell their coins, then the market will crash majorly... but hey.. if it's up to me the btc value may drop to a few dollars, so I could invest a good amount of money, because a value rise is imminent, either way you look at it :)

conclusion = don't jump on the panic train and relax... there's no way that crypto currency will get banned worldwide :)

before china closes its trade with bitcoin, btc prices are often like this, sometimes up and down sometimes, you do not get too panicked with all this, if you are afraid of loss then you can sell it now, but i am sure it will not be long, because bitcoin supporters are very many,,

BTC banned = miners are also banned from china means a high amount of mining speed gets removed also?

This time is RIP.

Healing will get loooong time....  :o

dangg, so its the problem that makes bitcoin rate is down and still down right now, i think people do sell their bitcoin because of panic, i hope after they all panic bitcoin raate will rise and foget all about china and something about banned crypto and bitcoin

Nope...

Some miners may change to other coins but it is a huge damage for all ecosystem. But mining side will go on.

(Cartman voice)

Guys, guys. Look, u guys. Its goin back up! Isnt that kewwwl.

U guys, uguys.Think its gonna shoot back up u guys (he invested a couple thousand in it...)

I thinks its totally gonna shoot back up.

(Kyle puts hand to face)  

Yep, They do what they want, but not sure why they did or do they don\t want to develop their country?
They even ban the Ip's for connecting or mining. let see what will happen, i think china had a sub forum here, may be check it out to hear from chineese people.

Bare in mind that popularity is raising anyhow..  my 2 cents.. recovery won't take that much time... ok, compared to the speed the btc value raised in a few months, maybe It might take a month more or so to reach that same value again.. nevertheless... point out 1 bank that gives that much revenue on your investments and then come back with the same reaction that you would loose money with these kind of investments.. Worst case scenario in my opinion.. by the end of the year we will be back on track ;) the only ones that will be crying are the chinese people =)

The market is just overreacting to the news. Though am not saying that it has no weight but the reaction is quite enormous as if it is already the end of the road for Bitcoin. Soon the whole market will learn that it is not all about China and that we can all survive without the Chinese market. I am sure it might be hard initially but as time goes on we can realize that big companies like Facebook, Google and Twitter actually do not a respectable presence in China.

China has become an overrated factor for the downturn of bitcoin and this should stop because we have other markets to also look to. Anyway, this is the best opportunity for people who are planning to increase their Bitcoin hoard since they can now buy at a cheaper/discounted rate.

Bitcoin is just having a BIG SALE!

Are you guys even listening to yourself? There is no "BTC ban". Dear god, please let it rain some brain.

If we look in 3 months Bitcoin chart - https://coinmarketcap.com/currencies/bitcoin/, then we can see that price drop is not so large. So Bitcoin price can stay at the same level or go up again. Do not forget that total bitcoin volume can be only 21 000 000, so most possible Bitcoin price will go up.  

China is doing what they think IS RIGHT that can help their country's economy by stopping people from investing on cryptocurrency. Well, good for them! Bitcoin will survive with China or without it. The rest of the world will continue to use bitcoin because it fast, secure, decentralized and low transaction fee. Let china go that will not be the end of the world? :D

i think we are in a sensitive situations which is many people still want to hold their bitcoin but in the other side, they can not denied that they are in panic mode to see the price is fallen too deep. but i am believe that bitcoin is strong enough to handle this fallen and will be recover soon. i think its a test for bitcoin to know how strong and how good bitcoin for the people.

What trades will be closed?
I also see the price of btc falling badly and I'm freaking out with it, but there's no other choice for me because now I'm also needing money for a need to build a real world business, before the btc price falls below $2000 I better sell it now.

Why would they even do that?

I've read from somewhere that the closing exchange was doing fishy stuff in the background, so hopefully that's just the only exchange affected.

Yes the price of BTC is crashed again because some speaks of a stupid CEO and a fake new from mafia China. Welcome to the cruel world , where traps are everywhere!

If they'll close, they close. Bitcoin users will just move from one exchange to another. The price will fall as they exit the exchange, but it will recover soon. Not all of those who dump their coin if btcc closes will remain on fiat. I am sure they will buy bitcoin on another exchange and that will pump bitcoin up again.

I decide to sell half of my bitcoin to lessen the damage I got if in case bitcoin value was totally fall down. However I have no doubt that bitcoin value was raising I do to sell my bitcoin to secure and to protect my investment.

Wow nice decision, there no wrong on your tactics however I hope you cannot regret on the decision you been made. Moreover I think if I'am on your feet I do the same, but I have no savings in my wallet. Because I always used it for the needed of my family.

I don't known btccc before any I think nothing worry about that. If btccc close we have btc-e back. that's all

Btc-e is great. Problem is that this might suggest that all chinese exchangers will close.

there it goes boys, kiss it goodbye. 20 billion just wiped off! See Ya!!!!

Welcome to communist world, anything also can ban, nothing surprise  8)

Is this why the price of bitcoin crashed again ? Seriously i'm really afraid right now, i thought the price will stable on $3,750 after that huge crashed but nope, it's crashed again. My plan to hold my bitcoins is become not again, i'm playing safe right now, just sold all my bitcoins at $3,550. I'm afraid the price will continue crash until 30 sept.

yes this incident may be a normal thing. just a panic just to make people busy selling bitcoins they have. but if you look at the decline in price we would all be surprised. suddenly the price of bitcoin easily drops, whereas seeing the development of bitcoin at this time should be bitcon price increase. this fall is only a moment, we have to wait until the time actually arrives.

I must agree with you mate, this is now becoming chaos to everybody whose closely engaged to bitcoin. Can we just let those speculation let go and we should move on with the visions we wanted for bitcoin? well it sounds funny but lately bitcoin price dropped at worse due to paranoid holders. We're already nearing to reach our goals but sadly frustrations prevails.

I think that the crash is just normal to the crypto currency it happens every once in a while so don't panic.
Other's would take this as an advantage to earn I think we should buy some while its dropping.

I mean, even though there may not be a "ban" yet, it certainly seems like the market is being attacked as if it was a ban and so are multiple exchanges. We just saw BTCC make their big announcement which dropped BTC by 20$. Even though it may not be a ban it definitely is having those effects on the coin.

I don't think that price down to 2500..
My opinion need buy BTC for cheap price now.
After some days price will be rise to 5000 USD again.
Don't panic friends :)

It is so natural for some users to panic whenever bitcoin decreases its value. Seems like most of them did not experienced this kind of situation. It is definitely not a right time to dump your bitcoin and wait for it to pump again. This year wont end with bitcoin having a low value. And it is possible that it will even reach a 5000$ mark. So hold and buy in.

Well they are just not thinking that everything is fake.. but sad to say that its still happening that the price of bitcoin is still falling that i think there are still people are panic selling their bitcoin..
Hope that it will not go far and hope that price drop will stop and buy more bitcoins instead its still need support by other company or business .
For now better to watch the price until we will see the stable price before buy bitcoins.

It is just the matter of time unfortunately if it goes down it will comeback with huge profit and will give advantage to the investor who is holding it. if prices goes down one should hold the bitcoin and wait for right time and when it rise again then come into market and enjoy the most percentage of profit and get joyful life. So never think that it is going down. It will move one step back it will move 20 steps forward.

Well this sounds ridiculous to other people who've invested lately, but I am still confident that bitcoin will not end up a failure. Maybe this will be a challenging times, but all we need to do is be calm and don't panic. Always make your funds at secure situation and never listen to negative speculations.

Yup everything is being dumped like anything. That feels good actually as we can earn big profits now by buying at low rates. The only thing that is concerned about is how much low the price is going to be. It has to stop somewhere so that we can start putting money at that point for better margins and profits. ;-)


I might be looking crazy at this time saying bitcoin price is being dropping and we should be happy about it but it is really the good thing. What I have learnt from the past is we should be investing now and get profits.

I hope bitcoin price will increase again . Because as of now the price of bitcoin decreased and its now 3400 dollars . If you want to buy bitcoin you can buy now and for sure you will earn profit after few weeks. I hope also china we stop all the issue if they want to ban all trade go . For sure after that theres no doubt about bitcoin so the price of bitcoin will increase again because many peoplr buy again bitcoin.

bitcoin price really affects much by china. china will going to suspend all trading on september 30. that's one of the reason why bitcoin price suddenly keep crashing till now because they're on panic selling . i think it will took a long time till bitcoin price reach the moon again. but thanks to china. other signature campaign won't closed (hoping) because they can now afford bitcoins again.

china has a big influence and was one of major countries by volume on bitcoin but, they are not the only ones that have bitcoin exchange. if China will close their exchanges, then other exchanges will emerge

that is right, we can still trading bitcoin, buying and selling bitcoin in other places and i am sure that bitcoin will recover. but i admitted that with bad news from china, makes the price is down to deep and we can see the price is reach $3xxx. i think we still have opportunity to save our bitcoin and make money from other market.

Let's compare bitcoin value from 15 June, 15 july,15 Aug,and 15 Sept
You can see bitcoin are : $ 2,560++ (up) ,  $ 2,045++ (down) , $ 4500++(up) , $ 3063 ++(down)

Well it's predicted that this will happen and let's see for 15 Oct , $ 5000 so just hold your coin and don't be panic

Currently on coinmarketcap, price is around $3000. Sometimes less and sometimes over.

Anyways, there seems to be a floor at $3000. I personally think that the current dump is strong enough to break that floor and cause a lot of panic when the price goes down to in the $2xxx levels, and triggering more long squeezes.

Great time to buy at anything below $2000 if the price drops that much(which i think it will due to panic dumpers).

Well yeh we have to face this crash that the only thing we can do. There's nothing in our hand. Anyways Chinese are the real main reason. Since they banned bitcoins so the value decreased. Hold it until it go up. I don't think it will  increase before 2017. Maybe we should wait till the end of year or maybe start of 2018 when bitcoin will start rising again above 5000$.

This happens again at bitcoin with prices falling again in the number $3700, the original price of the bitcoin is definitively makes the users of bitcoin became rich suddenly on some days ago with the price of the bitcoin then on numbers $4800 then increasingly day by day is dratis then this makes all panicked after seeing the price of bitcoin fall. I hope the prices will continue to rise and bitcoin menurus rise heading into the month and will not be decreased again

It's just the beginning if we can survive this China's banning their ICO and exchanges is nothing because the real deal is in the market. The price will gonna get back again and this is just normal when bitcoin is in dip, all you have to do is just wait or hodl if you had invested some of your money on it.  There's nothing wrong if you wait, the only mistakes is that if you panic selling and you lose your soon to be a profit.

China didn't banned bitcoin, so the miners is fine, it's just the rules about the usage of bitcoin and so on is more strict that some exchanges are closing their service because of it and it affect so much people in there.
the miners will keep mining because it's not a criminal and will stay unpunished, no worry about the mining power too.

Yes, and it has caused quite a panic.

Markets are extremely fragile when growth happens so fast like the previous few months that it was starting to resemble a bubble. The correction was really going to come sooner or later, with or without news from China. Seems like Jamie Dimon's message about bitcoin plus BTCChina shutting down soon has proved too much.

Panic dump has stopped and btc is up 15% from yesterday to $3600. We could potentially go higher, and overshoot $4k this month.

This fact shows that china has a big influence on the development of bitcoin prices in the crypto market, because with these rumors are able to make the price of bitcoin down dramatically. whereas bitcoin users are scattered in various countries but they seem to panic and do not have the confidence of bitcoin so leave it.

Bitcoin crash triggered by the news of China government will temporarily cease exchange trade cryptocurrencies by the end of this month. There are few days until September 30th but people already sold their bitcoin, maybe big whales tried to cause panic sell and then they buy back again. That's why bitcoin price could recover to $3690 after touched the bottom line at $2900.
The question is; whether people all over the world will dump bitcoin again or hold it even if Chinese people sell off all of their bitcoin.

Im pretty certain botcoin :p will reach $10.000. After that the price will become more stable. Since $500 swings at that time wont have that much impact. Plus the reach of $10.000 will be the utter milestone imo to reach the mass. Certainly to investors/spectators as indesputable given, including Jamie Dillon.

But they will consider and have new rules for manage miner in their country soon.
China is a country do not want the funds from their country transfer to somewhere, because it means bleeding foreign currency.

Price of bitcoin is crashing again and again because of banning it in the various countries of the world. But no need of worrying much about it soon bitcoin will regain its value in the market. People will exchange or sell their bitcoins due to the panic in the market & will regret their decisions when bitcoin will rise again.

as of today the price of bitcoin is now stable and now slowly getting high again and i think it would be pass again  to 4000$ by the end of the month. no matter what the cause or crisis that othe countries had been facing like the ones in china , it cant still affect the value of bitcoin and bitcoin will remain strong.

Did it's really will be happened? if from the current price movement that seems trying to continue to lead to the higher, it's impossible if bitcoin price will got crushed, but well it's true also bitcoin price can be suddenly crushed or down is influenced by some things or news. But honestly i still doubt whether this will actually happened.

yes i think bitcoin will go to 4150 usd today I hope it goes up more before the next segwit initiation .