Bitcoin Forum

bitcoin price down about 1,000$ after china ban   this is logic

but less than 2 months back more than old 4,600 now without any new news why  ??

Could you ask your questions again with better sentences? :D China ban rise and fall of the bitcoin's price, China not ban bitcoin China ban ICO China ban exchanges if they are not regulated. new news is the old China tactic to manipulate traders. every day they are earning millions of dollars, China master of market manipulation.

I didnt understand what you wrote but i will do my best to explain. If one of biggest governments decide to ban crypto exchanges, this decision will reflect on markets and prices will follow.Just avoid from markets if you read news on internet.

Bitcoin was down then and not really volatile then because of the ban on ico exchanges. It dragged for a long time ,not certain of direction to head before it currently went bullish. Now what made it finally turned bullish trend was also the news of adoption from Japan. Meanwhile, fundamental analysis is instrumental to the success or direction of a trade / market, if is negative, it affects the market negatively and if it is positive, it helps the market to likely go up.

maybe you should fix your sentence to be easier to understand by the reader, maybe you read the wrong news. china doesn’t ban bitcoin, but only forbids ICO and the reason is because they want to maintain the stability of economy. if not, the yuan in china will get negative impact from bitcoin because of its strong influence, and the china government will be very overwhelmed to resolve it.

The answer to your question is pretty simple, China will not greatly affect bitcoin price anymore, that's why they stopped speaking about that, and the truth has been already found that ICO's are the only one banned by China not crypto itself. The news about China ICO ban is over and is already a closed chapter so why wait for the current news related about it? At least I expect latest news and FUDs just before or after fork but it might not be related to China. It will just be the common fake news that we see about fork and bitcoin's doomsday, etc.

The driving force can be traced to the expectations by the fork. This is actually making holders not to release the bitcoin they have and off course when you have a scarce commodity or product, economically, the price increases.
This is simply one explanation to the price increase in bitcoin.

If you check bitcoin market during China ban you will see that prices only touched 2800$ level not 1000$. It is going to gain more power with upcoming fork news. Patience is needed till october fork.

The china ban occurred around the same time Jamie Dimon of JP Morgan, Robert Shiller who won a nobel prize in economics and many other financial/economic analysts & experts claimed bitcoin was a bubble about to burst. That is likely what caused the last big drop in btc price.

People may have realized china isn't as big an influence on btc price as it had been in previous years. When the price didn't fall completely through the floor as it did in 2014, the last time china banned btc exchanges, they decided to call it a bottom and buy in, expecting the price to increase.

Bitcoin's price has always peaked late in the year. The reason for the price increase could be seasonal as well.

There could be other motives for it like Catalonia's independence. But that seems to be controversial and so we can ignore that for now.

Any news from China that are related to btc is good news. Last month a lot of people were panicking, many of them sold their coins, and even some others were saying bitcoin was dead. But look what happened, the price went up to the moon and everyone is happy. They surely know how to manipulate the market  ;D

With this experience people will now learned their lesson of not easily to panic in which they sell their bitcoin immediately. Maybe some of them regreting it right now as a consequence of their mistake. China banning ICO and try to manipulate bitcoin are failed attempt therefore no one afraid of them anymore, who knows most of the Chinese are now secretly investing again to bitcoin and it helps bitcoin value to pump up.

China manipulated the market? I dont think so,why you think that? China has only banned ICOs because everyone found a lot of scam.
So to prevent the crimes etc. It is a favour from china for us.

I concluded that bitcoin can still survive without china even though bitcoin prices have dumped hard but I think that's just a correction, because bitcoin prices will still continue to increase and I still wait until the end of november until there is a hard fork.

Are you depending only with the news? Then you are missing the real news here that there's a hard fork that will happen next week so that's the reason why the price of bitcoin increases. And not all the time we are going to depend with Chinese news or anything that's related to crypto there. Yes, they are affecting the price but you should also look outside the box, don't look always inside the box.

Of course it is evident for all to see that bitcoin has re bounced back to action and all the negative flares coming from china and global media couldn't get it on its knees. I'm very optimistic that we are headed  for more growth  even after the proposed fork this month.

Chinese just another kind of trollers, They are announcing to ban the crypto and bitcoin but in the future they will try to re-thinking about that. This looks pretty odd.
That news just give a short impact to all of the users, because many ways to the bitcoin and crypto currency. Because they are not familiar with the technology and if we are all using the decentralized exchange and there will be no party can prevent us to use bitcoin.

As usual, some investors panicked and sold without knowing the ifs and buts, banning ICOs do not mean banning Bitcoin.

That's true, I propose that we should deal peer to peer and forget about a middle man(exchanges) and meet in person because it seems all the government regulations and their interference seems to be directed at the local exchanges.

The Chinese government banned ICOs because they were completely unregulated and they had no control over them. There are rumors now that the new Chinese govt administration may allow certain "regulated" ICOs to proceed as well as exchanges.

Btw Russia and Japan are going through similar phases.. the price of bitcoin will continue to be volatile as some positive news comes in or negative..

That is also one of the goodness of bitcoin, because if its volatility, that is why so many people wants to invest into it. Think about it carefully that not only the news and issues could affect bitcoin, and there is no exact prediction, or in other words nobody can predict accurately the price of bitcoin if it is going upward or downward by the next few years, but the positive outlook is that it will rise due to so many demands and only limited supply.

We can't predict exactly why Bitcoin price is increasing, but I agree that there is a high chance Bitcoin is rising because the fact there will be a new HardFork. Last time we have seen a HardFork it was very profitable for holders, it was like free money, people earning thousands of dollars overnight without effort. And now they think it can happen again, so it's better to hold maximum coins as possible.

It's not all about China, just take a look for Japanese and South Korea that I think they have bigger market compare China's recently.
Since there are a lot of demand especially after they have officially legalize bitcoin so it's reasonable if bitcoin is pumping up for now !

china seems to have opened his banned and now china will legalize bitcoin transactions.

Hello :)

Your question is little hard to understand please write in Proper english the next time, anyways maybe it meant that the sudden fluctuation of price of bitcoins due to the ban of China was like it went 1000$ down but now its like 1000$ up ! And thats really weird.

Well you know China banned the ICO'S and also the bitcoin exchanges , I even heard a news where they said people with bitcoins will be jailed , they wanted to protect the outflow of money ... But I don't see any reason so as to why we are still discussing about China because China has long been out of the market and no one really wants them back now ^ because the Proce of bitcoins is already high Without their intervention so we don't need China anymore.
The reason for sudden increase in price is the upcoming hard fork and the launch of Bitcoin gold that has made people invest in bitcoins :P well I think this was preplanned to get over the losses as caused by the china.

It's not that they are trolling but it is affecting their economy and we don't really know the real truth behind that ban of bitcoin. But what's I'm sure of is there are Chinese people that are keep on pushing their career with crypto's. They can't monitor the whole crypto market there for sure, the problem there is the government is the one that doesn't recognize bitcoin and the real traders are just following to the directive of their supreme government.

I think you didn’t read thoroughly about the news about china closed the ICO and took a wrong conclusion  ;D
china affected the bitcoin’s price only for a few weeks because of many big ICOs in china can affect its value, but that's just old news and now it's over because the bitcoin’s value has recovered.
You’d better improve your thread’s writings so it will be easier to understand by the reader. and read the news thoroughly so you won’t take a wrong conclusion ;D

probably it’s obvious for everyone who has seen the proof that bitcoin has recovered or rise since the ICO’s closing in China. and there are many people who become optimistic about bitcoin’s growth after the fork’s announcement that will be held in this month

The Chinese now are for sure planning to do some unexpected come back. And when that happens for sure the price of bitcoin will be pumping quickly. I thought they will give some announcement and statement regarding their temporary ban to ICOs on the 15th of this month as the congress election on their country was done already or they are still on going and still processing with the set of rules that they will give.

Simply because bitcoin users are keep on believing that bitcoin will survive whatever news or issues may appear it will not affect now.

Well its just about a month ago isn't it? Not that old ey? ;D. Seriously, that's how bitcoin and the market moves as evident of the last month's fall wherein bitcoin floored to $2800. But now no one has thought the bitcoin already doubled or more than doubled that price during its recovery. I'm sure we already proved that Bitcoin can't be stopped, not even the Great Wall. I think that their effect will not really last long because there's still some other parts of the globe that are willing to invest and put money in the market.


I hope they are, because bitcoin is not enjoying another unprecedented march toward another ATH. Let's see how will they react now since the system has already proven that we can stand without them. I'm sure they want to comeback and join the party. They are very welcome to comeback anytime.

I really don't think the scare will last because nothing it our ecosystem can do that. I haven't seen any news that lingers for a long period of time, only temporary. But yeah, we should be grateful that the price pull caused by the China shenanigans stop short of a massive crashed to $2000. We have to thank investors and casuals who bought bitcoin is that dip. So let's moved forward now without China, they have done their share in the past and we are also grateful for them, however their government has a sudden change of heart to bitcoin and crypto's. And the news that are the main driving force of bitcoin price rising is the fork on the 25th. Just 4 days from now and I'm excited to see the price goes to $6500-$7000 tops. And then we will see what gonna happen after the dust has been settled. I'm optimistic and hope that the price will really take off up to the end of the year.

No. The rise and fall of price of Bitcoin is not because of China. China ain't shit. China has nothing to do with that. It's because of Bitcoin hardford. Bitcoin is more likely to split again and many bitcoin holders are now holding bitcoin as much as they can. From saving Bitcoins, they will obtain forked coins which Bitcoin Gold. The more you save, the more you gain. China is nothing. People are sick of their drama. Why don't they ban cryptocurrency there already? The reason is because they are just manipulating us. Japan just already surmounted them. Japan is the bigger market now compare to China.

There is no reason to deny this fact that bitcoin is very much powerful thing and it cannot lose its reputation and fame just because of the propaganda of any country. China did try his best in order to take control over bitcoin but results are right in front of all of us.

China failed and all his plans failed in worst manner. Bitcoin will keep on rising high and high no matter what the conditions and circumstances will be.

That's good for us and I hope they also realized it then we can still move on even without them considering themselves as the sleeping giant. They'll join the part soon as they stated that they have to make such regulations and ruling about the ICOs on their country. It's quite a long time before making those house rules but I'm sure they are rushing with it, they don't want to miss the action.

What China did was very unexpected and terrible move for the entire cryypto coin community. Prices fell down unimaginably nad it became a nightmare for the new investors. Many people sold out their digita assets, especially bitoin and now it has become their regret. Bitcoin defeated China in an unexpected way which has attracted trust of all bitcoiners. If China was of the view that it could kill bitcoin, now it won't try this again. I am happy for this and excited about the hard fork.

Yes, bitcoin is not confined to any region and what Chinese did they just throw axe on their own feet and they will surely regret in the future what they did and they will beg to rejoin and they will face a lot of trouble because whole world is accepting bitcoin and payment are now made digitally so there will be difficulty of business for them china has now no impact on price all they do will be a loss for them.

We can't deny that it did have a big effect on bitcoin for a few days though. And if another country would do the same, there probably would be the same temporary effect. The good thing is that we've proven that bitcoin still has a very good support and following so despite china banning exchanges, which could have brought down a lesser market, bitcoin continued to grow even stronger

I did not get your last statement but I think you want to ask that how it’s possible for bitcoin to get the rates of 4.6k rise without any good news. The reason is, it’s not just about the good or bad news or country’s making big and small moves. It’s about hard forks as well because they are the procedures which adds up something new into blockchain and bitcoin technology. The current fork is the reason why bitcoin is going so high. Also people want to earn free XBG and that’s another reason they putting all the money Is bitcoin and it’s prices are rising so high.

I just remember that China is no longer the world's leading bitcoin market, and its prohibitions limit the development of bitcoin here, so that Japan becomes the largest market.

I heard that after China closed their market a month ago but after japan became the biggest bitcoin market now the bitcoin price goes beyond estimates and I know that now the Chinese government wants to make it back. I hope what I hear is true and runs smoothly.

China are great market manipulator's , But even though the impact of banning bitcoin in China brings panic to the mass, Still people and followers of bitcoin united to sustain its value in the market, and now we feel the real power of bitcoin started to rose up in the 2nd week of October and everybody are again enjoying the good harvest of investing btc.

Imagine if China still able to use bitcoin, bitcoin value will reach even higher !
As for now bitcoin will reach their limit on 25 Oct so if you guys on profit, try to sell some and let's hope China will use bitcoin once again

Oh you mean is the bitcoin price rise because what? right, china ban makes prices fall due to panic sell, a surely increase price due to increasing demand, probably because Segwit later.

no matter china banned bitcoin because bitcoin users in china very much i think china residents who use bitcoin will not stay silent, and i think it's just china way to get bitcoin at cheap price.

China will again allow crypto currency and ico regulation in the country. It loose more investors as those are migrated to japan and korea.

Why you are like feeling weird about the price dump and pump? It is very common to see bitcoin that the price is going down because of the news that is 100% negative to bitcoin and because of that dumps, there is an event that occurs called panic selling and because of that panic selling the whales are taking advantage of that and they are buying bitcoins at the cheap rate and you can see that because of the effect of panic buying of the whales that makes the price pumps.

At foremost, China didn't ban bitcoin because banning bitcoin would mean ending everything that relates to it whether its exchange, mining, blogs, conversion sites etc but no those variants still flourish till today. What actually happen was a mere noise which was blown out of proportion despite the fact that discussion was still ongoing by the major stakeholders in that part of the world.

The increase in price therefore have to do with the gradual return of interest and confidence into the market which is a normal thing to see after a turbulent period couple with the intending fork that would increase the amount of core btc people have already.

Actually bitcoin have given us a hope and surety from its last performance that it doesn’t matter how hard the fork is, prices will shoot up soon after the ending of that spike. There is nothing to be doubted on the development of bitcoin’s price that it will not be stopping at any moment. Like you said, banning ICOs and exchanges will not be of any use until people love bitcoins.

It is very common to see bitcoin that the price is going down because of the news that is 100% negative to bitcoin and because of that dumps, there is an event that occurs called panic selling and because of that panic selling the whales are taking advantage of that and they are buying bitcoins.

Yeah, they overtook China after the exchange ban by the Chinese government. Can't really blame them.

Still, this means there are other countries more than willing to pick up the slack if top holders start dumping. For the most part, this means Bitcoin is unstoppable. Japan isn't going to ban anytime soon and the US is supportive. We're in for a great future.

China is no doubt having the maximum number of investors and traders in the world of crypto currency especially bitcoin. This was the only reason behind this that bitcoin was effected this much. If some other country do the same thing, then I don’t think so that there will be any such effect on the reputation of bitcoin. China’s plan has been flopped dramatically and now they will be regretting over what all they have done.

That’s the most trustable thing about bitcoin that its progress and profit giving nature is unstoppable and this thing attract more user as china banned bitcoin exchanges the other regions like Thailand and japan took over the seat china left and they start their business into the bitcoin and now these countries are enjoying more blessing of bitcoin as compare to china and this thing is clear that it has no weakness.

Their ban of ICOs means that Bitcoin in general will have less competition overall, but it also means that it's powerful / popular enough that China can't exactly prohibit the flow of it in and out of their country.

The recent price appreciation seems less likely due to certain countries like China and Japan and more likely to be that the recent price rise is from people bidding up btc trying to acquire as much as possible before the bitcoin gold hard fork which is supposed to happen within the next 24 hours. Like bitcoin needs another derivative, this one certainly seems like the most shady out of them all. After bitcoin cash didn't immediately die a painful death, people saw how much money was to be made by partaking in these garbage forks, and thus bitcoin gold was born. Except in this case, the developers are pre-mining 100,000 coins before releasing the code to the public.

Bumping this thread to post an article from telegraph.co.uk (http://www.telegraph.co.uk/technology/2017/12/23/bitcoin-risk-chinese-sabotage/)
Beijing still trying to figure out how to control (=ban) the mining activity in the country...  ::)

China bans Bitcoin is really a good thing because there a reason i don't like much about the Chinese trader. That they always turn the market into a mess.

Thanks for the link and that is alarming. They want to make bitcoin useless is something very disturbing and as well disappointed by them. In some point, I do understand why they ban ICO in they’re country but attacking the Blockchain technology by using computers is beyond normal. I think there is something or someone powerful behind this.

Exactly. They are just one country compared to the rising new countries that are starting to believe in bitcoin. Though it indeed affected the value of not only bitcoin but also other cryptocurrencies but we can see that until now bitcoin is unstoppable. No ine can really do much to go against bitcoin and not even those countries who literally prohibit the use of it.

everything will come down to the corruption in China, and in the end they can not even put a dent in Chinese mining operations.
it runs deep and with the added financial situation in China and the fact that mining is filling the pockets of so many people legit or through bribes, it can not be closed at all.

imagine a small city that has a small power plant that is alive only because of the mining farm. the city people are earning money because they have a job in the mining farm or in the power plant or anything related to this mining operation. there are officials that see this and may even be bribed to let the mining go on.

the government goes to this city and tries shutting down the farm. they will shut it down for a couple of hours and they say "we ban bitcoin now. everything fine" then things will be started soon afterwards.