Bitcoin Forum

According to blog posts from two of the largest bitcoin exchanges in China, Huobi and Okcoin will be closing operations on October 31. Meanwhile, bitcoin markets have rebounded to the $3640 range following the announcements.

Bitcoiners have been waiting for the two Chinese exchanges, Huobi and Okcoin, to announce that they were closing operations. Earlier this morning, the Chinese financial publication Caixin revealed that the two exchanges may stay open longer because they have a lot of users and the companies did not participate in the ICO process. Following this story, on September 15 at 9:30 pm Beijing time both trading platforms announced they would be closing trading operations on October 31. Both blog posts from each exchange are nearly identical. 

“On September 30 we will inform all users about stopping our trading services,” explains Okcoin and Huobi’s announcement. "On October 31, in turn, we will gradually stop all the digital assets associated with the RMB trading business."

Read More Here >>>  https://news.bitcoin.com/bitcoin-markets-rebound-as-more-chinese-exchanges-plan-to-close-operations/

On the bright side, maybe this will help some good decentralised exchanges to get developed in China.  All they have to do is start an ICO for it. /s

Seriously, it looks like the market could get quite a bit more bearish over the next couple of months due to the November hard fork and these problems.  This looks like a bulltrap to me, so I'm going to continue spending my coins in case it drops further.

It may very well be a bull trap, but there is no way to predict anything in a market that is going through a blind panic rush. I am glad I had the opportunity to buy back at these wonderful discount levels, but I have kept a good amount of fiat aside, because we may very well end up sinking down further. Overall, we have still nothing to complain about, because we're still more than 200% up, but that's something people completely disregard due to current negativity....