Bitcoin Forum

Was already published any official news about China's ban? Have we only rumours?

Maybe they want to ban only scam coins. I don't know why you selling like that if there is no official news.

But where do you think the bottom is? Is possible to any altcoin falls to a few cents?

there might be a long way to go yet.
BTC down to $1000 < 3rd peak returns to first peak.

Maybe some Chinese exchanges like houbi and BTCChina will be closed by the end of this month and therefore most Chinese users won't be able to buy Bitcoin and altcoins on such exchanges. More news here:

https://www.coindesk.com/report-casts-doubt-future-chinas-bitcoin-exchanges/ (https://www.coindesk.com/report-casts-doubt-future-chinas-bitcoin-exchanges/)
https://twitter.com/YourBTCC/status/908285586368167936 (https://twitter.com/YourBTCC/status/908285586368167936)
https://www.cryptocoinsnews.com/charlie-lee-okcoin-and-huobi-to-meet-regulators-friday-chinese-bitcoin-exchange-suspensions-a-good-thing/ (https://www.cryptocoinsnews.com/charlie-lee-okcoin-and-huobi-to-meet-regulators-friday-chinese-bitcoin-exchange-suspensions-a-good-thing/)

This was a profit taking selloff; nothing to do with China. This tricked was used in 2012 and 2013. Cash is king right now; hope you are holding a diversified portfolio that includes cash.  ;)

One more...
A china exchange ViaBTC is going to close.

The arrangements are as follows:
Sept 25th: Closing of registration, asset deposits and all trading pairs
Sept 30th: Closing of website viabtc

We are going into ban waves and negative news era for crypto currencies. It will be bear market for long time as it seems. Maybe China news aren't that bad so markets can recover faster.

One chinese exchange shutting down, that's more than a rumor

So china's crypto market has a really huge effect in general to the whole crypto world then. Hopefully all these rumors are put to rest by the weekend, though i don't see it to be that alarming yet, i have use for the bitcoins that i'm saving for next week

This was a profit taking selloff that will lead to a mid-term bear market. Hopefully you got some cash 💰 also. Prob buy back into cryptocurrencies in 3-6 months? China was FUD FYI.  ??? ;D >:( :D

Do you think it some kind of statistics for BTC? Or just one more rumor?

IMO the bottom is at 2500$.

one meeting held today, its said that all exchanges will be closed gradually, what's more, after banning ico and exchange, the mine will be the next target, it seems the crypto in China will all gone

there was an official news from day 1 but they never let it be heard. they hide it as well as they could and filled the internet with FUD.

the official news was about banning ICOs and regulating exchanges.
and that is exactly what they are doing now they are regulating exchanges like they did a couple of months ago.

yes it is possible and even more. altcoins are much more fragile because of their pump and dump nature and the current dropping market is not kind to any of them.

Really don't know what to do. If I sell now, I will have a huge loss. Is it make sense to wait few months or maybe year or two?

Is better to sell altcoins (Stratis, Waves and OMG) and buy BTC? I much more believe that BTC will grow then those altcoins.

What will continue, when these events occur? Altcoin and Bitcoin?
Oh My God ! I'm losing the calm when BTC has dropped $1500, The future of ICO ?

I really think that's unlikely.  I suspect it will be regulated -- that's not going to be a real surprise.  China may or may not be really effective at that particular game though -- it's really hard to rope the wind.

well as of now as Charlie LEE the well-connected lite coin creator said on his tweet "OKcoin and Houbi are meeting with the regulator tomorrow. They might soon change their tune." he said Sept 15.
But as of now miners are still doing what they do [in china] because it was not include in the chinese government announcement. PS. OKcoin and Houbi are not receiving yet guide lines from the Chinese Government as of now.

in addition:
"China banned bitcoin trading for major institutions in December 2013, and a four-month freeze was imposed on trading this year due to security concerns. The space has come under increased scrutiny in 2017 following a boom in raising money via ICOs, which has already passed $1.7 billion this year, and soaring valuations for bitcoin and Ethereum. The former surged past $4,500 per coin this summer, and it even surpassed $5,000 on some exchanges."

Hope this will help everyone to clear out their mind.

Good to  see more girls here at crypto first of all. So what is happening is weak hands are being taken for a bumpy ride so that they can sell into fear. Also wave4 in elliot wave is being played currently. So nothing to worry here

That is really a bad news for the crypto market, a lot of investers will be stopped to trade coins. I Hope the Chinese government do not do that.

What is your advice? Is ok to have altcoins in cold wallet and just wait or is better to change all altcoins into BTC (potencial growth in next years)? Or sell everything?  ???

It's just a panic in the market because of the news coming from china

I think it's best not to do anything

According to what i've read their are source in the news that china are banning ICO and Shutting down local exchange but There are no actions show from the media, but as i search the net their news that china was talking to the local exchange and just looking about the operation and some are have been inform verbally about the ban regulation that the government announce, some exchange are not totally shut down but not in service for a moment.

-I think china are regulating the ICO and sorting out scam to legit, well Thats a good news for all of us who invest in ICO.

-in my opinion every new coin are have been valued as around $0.04 , $0.10, $0.08 , $0.05 thats what their value before they enter the exchange, after that the value increase. MY answer is YES it is possible that any altcoin will fall in a few cent depend on how the coin circulate around the market, if its not been updated or have been use thats maybe the time that the value decrease.

Usual China FUD. They banned exchanges. Everything is going back up, no reason to worry.