Bitcoin Forum

We see that BTC is down to 28% in last 7 days which is result of FUD made of from China banning BTC. But this is not the case, instead china is banning ICOs without proper licensing and refunded all ICOs done on chinese exchanges like LLT and TRX on Binance. China ordered exchanges to get proper license before operation in China and these exchanges are still operative for International users. So We cannot say that China banned BTC instead they banned BTC exchanges to operate without licensing.
Another reason was the FUD made because of Jamie a CEO of a bank and then propagation of this news as a important highlighted news as on CNBC, Express tribune and other international News papers and News channel did. This seems like Banking system backed this news propagated it to make people scare of BTC so they can invest in banking system. BTC is a Bubble is word most used to make people scared about their money invested.
All FUD resulted in crypto currency down from 150billion $ to 112 billion $ in less than a month. People are scared of their investment but big old trader are saying this that this will rise again so don't panic and sell their bitcoin at low price to make a loss instead hold and u will see a big increase in price very soon.
This FUD happened many times in throughout history of BTC from 2011 specially china is banning BTC so do not panic sell if u want to remain in cryptocurrency.
What are your opinion about main reason for this price drop? 

As all I know from reading news about cryptocurrency, the main reason for this case is related to China government ban, But I'm still thinking about that will they do it or not cause China government get a huge amount of tax from Bitcoin mining factories in their country and almost biggest Bitcoin mining factory are located in here so if they do it, ban all activity related to cryptocurrency, I think it'll be a great loss for cryptocurrency economy all over the world cause Bitcoin mining factories in China are providing a huge amount of Bitcoin to World exchange market everyday.

China did not announced to ban bitcoin instead just ask exchanges to get license in order to operate in china. Also asked exchanges to get lincense for ICOs. not banning them

I think bitcoin not announced that it will be ban but i heard there are ICO was already delisted that i think only ICO was ban not the whole cryptocurrency
If you heard that bitcoin is ban its a fake news better to look for btcc exchange or any china exchanges use the google built in translator to read and to see that fact that there is no bitcoin ban..
People are just panic selling even they are not reading the real source.
For now we are seeing more price drop and i think panic selling will still no ended..

It doesn´t matter if China is banning bitcoin or not, if many people believe this is going to happen they will panic sell. Other people simply sell because they fell that, because recent "news", the price is going to drop.

China's regulation on ICO is somehow will give us benefits.

On the other hand, about the news about shutting down exchanges, it will really have a big impact on the price. The drop will continue because of that. With the concern like this, everyone must maintain their being optimistic about bitcoin since after all this things will over, even it will lasts for long time, still we can see bitcoin price again having a spotlight again at the stage.

We just wait what will happened now after all China bitcoin exchanges will now closed their operations.

The reason seems to be quite obvious and that is the Chinese government decision to regulate ICOs and exchanges in their country I don't think there's any reason for us to make it a big issue as the effect of it on bitcoin price isn't going to long last. Despite all these decisions taken by government of China and even one of Chinese biggest bitcoin exchange BTCC announcement to suspend trading starting September 30 the bitcoin mining pool in China haven't stopped mining so what does it all mean maybe Chinese trying to acquire more bitcoins by taking advantage of price drop. Maybe I'm wrong but that's what I think.

There is no concrete reason behind this drop ... The bad news from China is not so catastrophic ... It is the panic of people that drops the prices, nothing more. When the whales arrive to fill their pockets, prices will rise again and at this point people will reinvest, but the prices will have already increased a lot and the possible amrges will be much lower. Buy now, as long as there is still time!

I believe there is a concrete reason for this drop.  Fear, Uncertainty and Doubt., that is the concrete reason why Bitcoin price drop today.  If we check news and history of Bitcoin price, drop starts when China banned ICO then drop further when a known personality said that Bitcoin is fraud, and even drop lower when the Bitcoin China closes announces its exchange service on Sept. 30 this year.  This series of events literally cause panic to people especially in China and make them to sell their Bitcoin holdings.

BTC price is falling because after Chinese bitcoin exchange BTCChina announced that it will stop trading from September 30 and banned all ICO's followed by a news of Bitcoin being a fraud by the Ceo of JP mogan. This news hit hard on the Crypto market. The Cryptocurrency market is volatile right now and all positive and negative news will create some impact on the market and it will see up and down in future.

Right now, the Bitcoin market is riding on a big ship of negative news and nobody can say when will this ship finally docked so we can move on and let this time be just another down history for our digital currency. The whole cryptocurrency market is affected because of what is happening with Bitcoin. People are encashing their hoard of Bitcoin so they can escape the heat while, of course, there are also many who are just "HODLing" what they got thinking that they can weather this big storm.

This is akin to suffering the power of Irma...there would be destruction everywhere...but ultimately we can get on our feet and rebuild. The same here in Bitcoin. In the past, Bitcoin also crashed yet after some time the recovery took hold. We just have to strengthen our mindset on Bitcoin as it will not go away. Remember that just last year...the value was at $500...and just after many months it escalated.

This is the trial stage for Bitcoin and we should stand united for it!

Greed makes the price over-shoot.

Panic makes the price over-shoot.

However, nobody knows when the market will stop over-shooting.

AFAIK China didn't ban Bitcoin or mining but they ban ICO because some of their people invested on scam ICO, so it's affect on local economy. Even China ban exchanger they still can trade P2P or use vpn to access exchanger

This is because of the news about Chinese guidelines that Chinese government released with regards to ICO and banning local exchanges.  This is intensified by the largest Bitcoin exchange in China BTCC, announcing that they are to cease their operation at the end of this month resulting people to panic and the FUD about Bitcoin doomsday spread again.  But I think this is normal to bitcoins eversince. if we check the history Bitcoin keep on fluctuating wildly and the tendency to go down then bounce back.

The reason behind bitcoin's price drop is due to some fake news that are spreading and a lot of people do some decisions because they are worried and about to panic and do some speculations about BTC. Start to worried about what if it continue to fall down.

LOL Weak hands will sell and goes panic  base on not verified news and source. Some has unclear news and wrongly projected that China is banning bitcoin, where in fact its just temporary ban on ICO's. China has started regulating ICO's and this is good for investors to screen those  fraud and scammers.

YEs u r right. BTC is not banned instead govt asked exchnages to get license before ICO sale but people are just crazy. Panic selling. Nobody there to stop them in losses. Even media is also playing a big role may be paid role to make this panic more fast by creating FUD

Many investor have no accounts on twitter as well as bitcoin forums where they can meet big traders of bitcoin. Instead they just rely on regular news channels and papers which are mostly are involved in creating this FUD so regular common investor got stressed by this FUD and so they panic sell their bitcoin. Where as regular trader sold at high price to buy at low price to make a profit. All this together resulted in bitcoin price drop.  ::) ::) ::) ::) >:( >:(

China is manipulating the cryptocurrencies so that if bitcoin value will going down they will buy it at the cheapest price in re invest it again then they will be the majority holders of all coins stock when it back to highest value in the future. Im just confusing if China have really  this kind of power or influence to control the bitcoin movement which is a decentralize.

china played it game very well despite of having just less than 20% trade volume. They made every common trader panic and news on media made it more highlighted like said by CEO jamie that BTC is fraud etc. All these thing made ordinary trader who are not connected with big cryptocurrency community panic and they sold resulting in drop. expert trader sold their coins to buy at low price result in more drop so we see this 30% drop with in two weeks

I think its a combination of factors at work here. First off you got the constant FUD this past week over ICO bans, and exchange bans, just constant negative news in the media.

Then on top of that you got a big CEO calling bitcoin a fraud. Combine that with experienced traders as well as emotional and voila the perfect recipe for this mess we are in now.

Dont think we will be here too long tbh but the markets are crazy so who knows, but long term I still am bullish on BTC all things considered.

Well said. U are very clear about all reasons. I think their is one big reason behind this is that the lack of connection between old traders and new investors because of new investors not on bitcoins or crypto forum. So they get effect from common media and got panic. and also agree that this will not stay anymore any long.

As I read the news today about this issue from a news source,they told that china government accepted this ban is as temporary.
Exchangers know how important is their business,so they will soon prepare licences from respective legal authoritatives.

Obviously China is one of the reason why bitcoin price crashed, September will be a blood month for all bitcoin users. That bubble actually popped because of China though, that unexpected news from China about cryptocurrency is really big into bitcoin, especially the price of bitcoin.

It Does not means that they banned BTC instead they are just regularizing exchanges. All this FUD is created by all media. Crypto volume is down from 150B dollar to 112Billion dollar because of all this FUD

Bitcoin traders are so emotional omg. They don't hold on they sell in fear. I can see it rising back to where it was once people wake up and realize the world is not going to end anytime soon and you not going to lose all your money.

I heard about the meeting of OKCoin and Huboi with Chinese govt. officials today. Anyone know if it already happened and what is the outcome? because this might pave the way for next few days of market development.

Yes people are very much astonished by the present price drop because of Chinese government ban on ICOs then another thing a famous CEO has told that bitcoin is fraud, so people lost their hopes and panic sell off  of traders of China Japan U.S and south Korea has begun making price to go even worse.

How do you think China became the third world power country? they didn't just work their asses off to be here today, they manipulated everything

They could in order to gain as much advantages as possible in every area, with cryptocurrencies now they have a legitimate reason to do the same

Now their government and their laws are behind them. but I wouldn't blame them if they want exchanges to have license first before doing business

This is their last shot to regulate and control cryptocurrencies.

Could be one of them because in China has been banned ico so make bitcoin prices down

I've seen many people are misunderstanding this, they think that BTC will be the one that China is banning. They don't understand that it's the ICOs and the exchanges that operates there. And Let's all give thanks to Jaime Dimon, bitcoin is killing his business and now he's trying to make a move and gives a bad feed back to his competitor and said that bitcoin is a fraud.

China will create exchange that's centralized, of course they want something that they can control.
The ICO banning are also temporary and soon they'll remove this so bitcoin price will rise again.
No need to panic sell and don't touch your coin or else big whales just laugh at you.
They just looking around every corner and getting ready to eat you so watch out.

Correction.

The erason why bitcoin have drop. because an announcement by BTCC here :"https://twitter.com/YourBTCC/status/908285586368167936"
given about market BTCC @China will be soon closed, that's make a rush for those holder bitoins at china, as we know half of whole bitcoin holder from china.

I think that thus drop happened because of the media, again, they are trying to report something that they don't understand, btcc exchange in china just had a temporary shut down, they are trying to make money out of this, the jucier the news the better, if they just reported that such thing is temporary, it will just be another news in their marquee, however if they say that bitcoin is totally banned, and they do have a lot of people who are trading in btcc exchange, their ratings would rise up, but still they didn't got any word from the other exchanges in china, and this type of nes will surely scare thise with weak hands and will sell out their bitcoin, unfortunately there are a lot of weak hands not only china but across the globe since bitcoin is not just only for china, then this type of news spread, so in turn, the banks will capitalize on this one, that's whg we are hearing people from jpmorgan, and with that kind on influence, more and more weak hands soon sell out, nkw knowing this is the banks strategy, for all we know, they had already bought bitcoins themselves since ghey are bankers they know the volatility of the market and bitcoin, though as of now is down, still has a lot of potential to grow in value. We should just not listen to everything they say, we all know that one thing good about bitcoin is annonymity, these people might already have bitcoins, but want to buy more, so  they make a panic, since they cannot control it like what they do in wall street, this is the only option i can see that they can do, once something negative has happened capitalize on it, we should already learned this by now, from mark cuban, just check iut what he did before and now he is also into cryptocurrency having an ICO of his own.

Its alltogether.
Stupid chinese dictatorship government and media.

Why chinese still didnt deal with these mofo's in chairs.

i think there's something about the timing of jp morgan and china's regulation whales are making some party about this issue and they are riding on it right now, we as small holders are being played and those who can't last for long will be eaten alive better to close our eyes as of now and begin to assess if
what will be our plan b for this problem.

It is almost means ban. But I belive it is temporary.

China had lots of criticsim about US gov  withdrawal in globalization too much.
And this opnion is popular in folks.So China gov will not ban crypt-cur forever.

You are right they only ban fundraising for ICOs and did not ban bitcoin in china. But yesterday an exchange (BTCChina) stop its services in china but other exchanges are working and they said that they do not receive any instruction from central bank of china. These are only media rumors which leads the investors to sell bitcoins which drop the price of bitcoin.

I think we are all affected in some ways on how the price of btc is consistently dropping. Most probably would say they have never seen a big drop like this one and i dont its not just the investor selling btc is affecting this fast drop pace of btc. Developers may still have issue on why the price of dropping but i hope it wont really return to at least 3000$.

china has made it cool and had helped us buy the tokens we had been praying to dip for the last 3 months. look at the price of waves and lisk that you guys had been wanting to acquire. you should be thanking China for all these bargain they gave. forget Jaime the guy has been panicking for years already, let him be tormented by the btc price in the coming days.

Litecoin more faster grow anuxpencive, I dont understent why buing btc ??

As far as I know the main reasons for bitcoin going down in price is because of the ICO and BITCOIN exchanger regulations that China is working on in their country. It may also be a result of some corrections in price.

not bitcoin traders necessarily, just amateur traders. bitcoin and cryptocurrencies in general make it so easy for just about anyone to get into trading, all it takes is some coin, an account on whatever exchange, and the most basic knowledge on trading. that being said, 'anyone' entails  children that may just have an interest in bitcoin, have no knowledge about how international markets, stocks / asset exchanges, or even bitcoin's history with price fluctuations. it's only natural that these people, with so little experience in the crypto world, would panic at every minor or major price dip, having been lured in with perceived promises of endless profit and 'to the moon' or whatever. i guess they'll eventually learn, but then again, even more newcomers will fill their shoes eventually.

the reason continue the btc price drop according to cryptocurrency new yesterday the china government announce to public the btc exchange are totaly banned in the china govenment starting september 30 2017, i'm a little bit worrying about this announcement and always i believe the bitcoin goes up again and again because i know more country want to invest in the cryptocurrrency so bitcoin continue the popularity as strongest in the cryptoworld.

It's because of the massive sells in the Chinese exchanges like BTC China and ViaBTC. These two exchanges have announced their closure on Sept. 30 and have advised traders to move their assets and/or cash out before the said date. The dip is a good opportunity for us to buy.

anyone knows why they close their exchange?
what is the reason so that their close their exchange?
it is make the market panic and the price is falling down and make the investors sell their bitcoin

Is this the near end for bitcoin though?

Who cares? Cash is king in a bear market; if you did not cash out then...  ??? ;D

it all started from the official statement of Chinese government that will ban the exchanger receiving bitcoin, I hope the Chinese government also consider the negative side because china is the biggest bitcoin user so if banned it will have an impact on increasing unemployment.

There is any issue of the banned BTC by China government and many exchange in China were closed of that reason,, China government will banned the exchange to, that is why many bitcoiner from China sell their bitcoin now

I think bitcoin has been a bit overpriced the last 2 months, historically bitcoin gain stability in range between $2500-$2700 but in last 2 months the price went triple and its just normal if the price having sharp decline as the issues concerning china hit the btc market, some old proverb i keep in mind was "Be fearful when others are greedy and be greedy when others fearful", so when people start to panic when the bitcoin dropped sharply, thats the best way to start analyze when to start to be greedy :)  

it means jamie has no big effect according to you. China is a big effect but jamie also a small role as this news was wide spread on NEWS channels everywhere making common investors panic sell

I heard a lot of people talking about bitcoin , they scared and sell their bitcoins, I think this is a normal in cryptocurrency market.

BTC is back. Positive news are everywehre now and it made a bounce of 600$ in just 6H. what a time just in 6 hours.

they are scared because of their past experience on it, if you get that experience before, the situation where bitcoin was about to bump or to decrease its price a lot of investors was panic to sell their token, they are all afraid to lose their money. so they sell it even in low value.but after many weeks, the price of bitcoin was doubled. not just doubled but even more. so they keep holding it even they are afraid to face the big risk or losing their money. they still believe that bitcoin will come back to high price.

Big risk big profit

The chinese exchanges led the sell off, their prices were lower so they prob moved their coins to exchanges outside of china to take advantage of the Arbitrage situation, to sell for higher price, which sent our exchanges dropping. The sooner this mess is behind us the better. We still got japan and korea, and more worldwide exposure due to this chinese pump this year, bring on the decentralized exchanges. We will be over 4k again in no time. Gold bug Jim Rickards and the corrupt banks can kiss our ass, we'll show em how resilient we are.

s for me,I think bitcoin has been a bit overpriced for the last 2 months. Historically, bitcoin gains stability in a range of between $2500-$2700. But in last 2 months, the price went tripled and its just normal if the price having very sharp will decline as the issues concerning the China hits the bitcoin market. And also, China government will banned the exchange too that's why many bitcoin users from China are already selling their bitcoins as of now.

Bitcoin has been hit hard by individuals and especially by China, which has had a huge impact on Bitcoin prices in the past few days. I think everything is coming back to normal and Bitcoin prices will return to $ 5000 in the next few weeks.

that's the strategy i think! they laughing now, instead of crying and got an heart attack, we can join the ride but too much risky need some tricky analysis. for me i think this normal in cryptoworld, when reach ATH, assume it  for the dump coming.

The dip started taking place before China made any move but they have intensified the decrease very well. Strike the iron while it's hot. However, the reaction from bitcoiners could have been a disappointment to the whales as most of us have not sold out our bitcoins, rather started investing more in it.

You are very much right. I think the main reason behind so much decrease in the market price of Bitcoin is due to the involvement which China is taking. I think China wants to take control over all this and they want to rule Bitcoin. I think this is just a temporary downfall of Bitcoin and things will change in the future.

Yes you are right. News we had from China are not so delightful for bitcoins these past few days. But now it seems like situation is coming in hand again and price goes to uphill now. Speed is slowly but thank you to whales out there to make some good decisions and taking up bitcoins a new flight again.