Bitcoin Forum

I have a link here that maybe China is one of probably cause by dumping of bitcoin by their miners.
https://techcrunch.com/2018/01/08/china-is-reportedly-moving-to-clampdown-on-bitcoin-miners/
Share your thought about this guys and help to enlighten my mind.

I definitely think this is an impactful source, but I wouldn't call the drops a dump. Bitcoin hasn't really dropped under 13000 as far as I've seen, and until I see it drop much more, I would never consider Bitcoin to be dumped. It's not like there's a few people just pumping/dumping as there are with many altcoins.

However, I do think China's extreme intervention is definitely pulling the price down. They've had a significant impact on the BTC price in history, so this crack down on miners affects bitcoin's confirmation times and whatnot. I've heard that China is rumored to be making their own centralized crypto currency itself, which may explain why they're making such strong moves against BTC.

I read an article that I find out that the major reason why bitcoin is making a corrections at the moment is the mining fees but I also disagree with this view as many issues are out there affecting cryptocurrencies. Bitcoin is facing many issues of regulations with many countries all over the world and untill those issues are settle down the price will not get serious strength.

China being a powerful country both technologically and otherwise and can be a powerful pivotal hurdle in bitcoins development. Though this should not be attributed to bitcoin bein dumped because that's not very likely.

In the past, bitcoin of seen similar dropdowns if not more severe and have managed to regain its position soon enough and get back in the game.

As far as bitcoin being dumped is concerned, miner lags and glitches, be it delay in transaction confirmations due to heavy congestion and other problems cannot be detrimental to bitcoins being completely dumped or ended.

These are short-term shortcomings that will soon be reverted.

Bitcoin hasnt really dropped it would never considered dumped .China  is rumored to   be making their own centralized cryptocurrency itself.Bitcoin had faced issues of regulations all  over the globe and still an issue to settle down

Based on my research not the China why Bitcoin is dumping now. The reason is related to another cryptocurrency called tether and allegations that the people behind it are using tether to prop up the bitcoin market.

yes because china is one of the largest bitcoin holders worldwide since banning bitcoin in china is that we really have the impact of smashing the price of btc so I believe that one is china why the value of bitcoin is rising.

Main reason. Due to Asia's (not only China) large population, demands from these regions can really sway the market.

China is the largest industrial country according to this web,
http://worldknowing.com/top-10-most-industrialized-countries-in-the-world/

If we think, this country has the potential to use crypto currency in the future as a means of payment them. Well this is when bitcoin will reach the top of the price. Of course if the policy about bitcoin is very influential nowadays.

Not entirely then but the impact and the majority of users there are affecting this little by little and this influenced some users,investors and trader to panic selling remember if one country has issues or some major incident it can affect the community right away spreading like wildfire if it comes to crypto's.

I don't believe that China is again connected with this recent "dump" as I think that the market has already factored in developments in China months ago. What I read is that this recent down is partly due to the news that Mt.Gox people will be releasing the Bitcoin they have to the market. Though of course, there can be other minor reasons. We just have to be brave in front of this development. Eventually Bitcoin will be back maybe around May or June.

there is a possibility that china is one of the reason why bitcoin is now in the state of down and ups but more likely to dumped price. the price of the bitcoin today is like 8000$+ well for sure in the near future the bitcoin price will be increased.

But i think that it can only be the waste of our time and nothing else, because i do not think that any other altcoin can overcome bitcoin, bitcoin will remain number one for a long lon time, because still most of the people are interested in bitcoin.

if china banned ICO and Mining the btc another coutries will be start some thing : like that tweet : Russia’s determination to become a dominant player in cryptocurrency is strong. Last year, Putin’s internet ombudsman said, “Russia has the potential to reach up to 30 percent share in global cryptocurrency mining in the future.”

About the latest dump I have seen it was theoretically because rumors about a big exchange (Binance) was hacked and because more regulations were coming from the USA side. And now this theory about the guy selling hundreds of thousands of BTCs in a short time period. If that is the case, better... But I think at this point there should be enough demand to counter this big supply dropped on the market...

Pretty sure this won't be reason at all. Though this news is old but I would like to add my point of view on it. I really think that miners keep selling their bitcoin's as soon as they get mined because they have to cover up their expenses of electricity and maintaining cost so they need lots of money for that purpose. I'm sure they can't keep waiting all the time for bitcoin price to spike and hence they keep selling it once they get it confirmed. Or they could be selling at least 50% of the bitcoin and thus it decereses the count of coins with them. This may not dump it that badly as gox situation did. :-D

China has long been trying to regulate the crypto-currency market. It negatively affects the market of crypto currency. The point is their desire to control all spheres of politics, economics and social life. Bitcoin does not belong to the sphere of their influence. Therefore, it has become a problem that must be solved in any way. Based on the measures taken by the Chinese government, Bitcoin falls in price.

Previously, China has influence in bitcoin and a larger part of bitcoin holders, investors and traders are from China but now, I don't think its the same. Since the banning of ICOs and the closing of exchanges in China I believe a lot of Chinese stopped bitcoin activities and since then we have been seeing pumps in bitcoin price. Any other thing could have caused the dips but definitely not China.

It may be the one of the reason for dump of bitcoin price. But now,the price is start to raise back to old value.It's not necessarily depend on china.
Previously lot of bitcoin traders and investors .After the ban news ,traders  in China also had start to reduce their investment.

There are lots of factors causing the price fall like binance hacks and exchange regulations and this also maybe a reason.But what we need to understand is that this is a whale strategy to dump the coins so we also have to make ise of this by buy coins at low price.

Looks like the News is what made it happen and not the act.

Recently, there have been a lot of falls just because of one page telling that this happened and that also without even resources to prove it.
I dont like that kind of thing. So how do we prove one's legitimacy? One more problem.

It seems like people tend to share those articles or news created by a popular one. Stop this kind of habitual act. Not helpful at all.
Bad news are being spread while the good ones stays idle. What a cruel world.

China is a very large country and it does not act like if it were just one individual. The Chinese government does not necessarily act always on the markets or regulations in an unified manner. 

The author of the topic wrote in January and then the rate was still in the region of 13 thousand, then we saw already the bottom of 6 thousand and the reverse rise to 12. The market is very volotilen. And besides the news from China, news of the hacker attack of a large binance exchange followed. Just a lump of negative news caused the fall of bitcoin.

Bitcoins is almost always under attack by governments or their competition so that investors might abandon the coin and move over to theirs or they might have another motive that we might not even know about entirely.

Yup. I think the news come from China is the main reason for this dump. China is the biggest country in the world and it has very great power to crypto market. All biggest Bitcoin mining factories are located in China that why it affected a lot to the market when this news just published. Beside as I know China government is also banning all the way to access to international crypto exchange that why trading volume on the biggest exchanges decreased a lot in few recent days.

I am and I know a lot of us are aware that China has been one of the most percentage if bitcoin users and investors and tge said country contributed a lot for bitcoin's success in the market. So I do think the current decline in value is partly caused by the illegalization of bitcoin and all bitcoin-affiliated activities in the country. But I am well aware that bitcoin will recover sooner or later.

China is the biggest contributors in this industry but it is not the only one why bitcoin price dumping. There are many news , fuds, hacking issues that price affect like this. Hence, we can see this bitcoin price will bounce back its high price.

Thank you for providing the correct source. The Chinese government's ban on trading Bitcoins as well as minimize the number of miners will affect the entire cryptocurrencies market, particularly the NEO and the Binance exchange floor. But I still hope that the government's ban on Bitcoin is a rumor.

It could be the reason that some people are selling, but I don't think it's a big reason. This is because that there is so much FUD coming out of that region (Asia) I don't even know if anyone is going to take what they say as serious. Though I know that there are some people that are saying this, and it does make sense. Though if you do  think about the amount of money that Chinese companies are making from Bitcoin mining, exchanges, etc -- I would doubt that the government wants this stream of income to end.

Who knows, this is just how markets work.

Many investors in China are holding their own BTC!

Because the price is not high, they will not sell their digital currency cheap!

Many Chinese miners move to other countries, and they don't sell their BTC at low prices.

Not China,  were done on it.  This time our enemies are the whale dumpers of wallstreet.  They dump so other wallstreet investors can ride. I know we can defeat them. We can make them liquidate.
#HoLD, that's it.

That fb news didn't really happen, I can still see now ads of ICO in it. I doubt if they will be able to do it.  The news now is about Japan, and people just making it a big deal when in fact we all know how Japan embraces crypto.

sharks in china

I also believe that it’s not about china we always think that bitcoin price is going down just because of china then a question is when its price go high so then who is supporting bitcoin so in my opinion bitcoin price is connected with market and I’m sure if we support bitcoin individually so its price will go high even china ban or stop supporting bitcoin.

China's action against crypto has been very controversial. Somehow, it affects bitcoin pump and dump aspects in the market. I still believe that bitcoin can still continue its growth, because this coin has already been adopted not only in China but also in other countries.

Maybe China is one of many reasons for the latest dump when The Chinese government continues to implement measures to prohibit cryptocurrencies but it doesn't have to be the biggest reason. As far as i know the reason of the latest dump because there are rumors that Binance exchange site was hacked, this make investors feel fear. Moreover, "Nobuaki Kobayashi" Bitcoin’s Tokyo Whale Sold $400 Million and He’s Not Done Yet. Maybe this biggest reason made the price of bitcoin dump.

Exactly, there are many other news why Bitcoin price is kept decreasing, China is not big influenced by the price Dips. Mtgox is kept seeling the Bitcoin and it is one of the reasons why Bitcoin price is kept reducing in the market.

I think the Chinese government is not opposed to crypto moneys, because they are constantly producing and selling asic miners. China is doing is strictly political, because the Chinese government sees Bitcoin as a threat to the tax system. For this reason they are trying to establish a balance.

totally agree, many things that affect why many people sell their Bitcoin (Dumping) not only because of China but other factors as well, but I appreciate also thread you make..

Yes it is, basically China government want to control anything. But this kind of crypto mostly decentralization, which still difficult to calculates exact how tax will be implemented. The government wants to take advantage of this, but they are deadlocked, so they restrict trade access. Is not this all about profit only.

What can we say about that, we are already seeing this kind of threat from China in the first place, although they banned bitcoin still millions of people are still engaged in cryptocurrency which they cannot ever control, so don't worry about it guys they will not totally ruin the price.

Yes it is possible, but I'm sure the Chinese miners are still mining and have not yet dumping everything. If miners in China dumping all the bitcoin they have, I think the bitcoin price will be much lower than it is now. They still keep the bitcoin prices high. Although china has banned bitcoin ICOs, but I'm sure bitcoin will not die.

Old news... yes, it they were helping to the bump,  but now that coin has been fluctating what's the thought ?

Of course they are very influential on the growth of bitcoin by 2017 alone they are one of the world's largest cryptocurrency users especially bitcoin. But on September 30, 2017 it all fell sharply and 'reversed direction' became very small after the Chinese government imposed a ban on bitcoin since then the rule has not changed at least until now. So since 30 september 2017 bitcoin growth decreased and increasingly decreased only.
And events that occurred in January 2018 the ban was reaffirmed and finally their government decided and emphasized all of the exchanges and its citizens to support their single coin ie Neo.

I don't think this is a factor , mining of the bitcoin is a necessary need of bitcoin life because if bitcoin will not be mine then surely there is no chance for the transaction to run in the bloclchain system .
And also if the miners are mining in more amount then we should see towards the factor that bitcoin's transaction will become more faster then with what we have confirmation speed in lack of miners .
And another thing that is the demand of the bitcoin , if demand of the bitcoin is high then surely price will grow according to that and if not then surely it will not increase and will remain at constant or will drop step by step .
So we should it target China for such things , but surely price sometimes depends upon the Rumours that we heard many times from Chian .

Why do you think that only chinese dumping crypto ? What about Wall Street and Giant Holders of Bitcoin and Whales ? I think everybody of them could dumping crypto very easy and manipulate of market.

Yes,  you are right. China is not the only reason why bitcoin is dumping.  It think there are also a big players in their groups of big organization. Who are contributed this reason why bitcoin incounter this problem. Like the MT GOX trustee has sold a half billion dallors of bitcoin. So this could also affect bitcoin price deflating.

I don’t think that’s the reason for such. China banned ICOs since last year, but it never had any effect, except the price downing for few weeks and then taking a turn upwards. If that was the reason, then the price wouldn’t have reached the $19,000 price rate which it did last year 2017. Let’s just say it’s a normal thing that happens in market and due to the correction, so very soon the price will go up again.

yes i think that is the one reason because the china is the one of many country who hates in bitcoin and also they cannot be welcome in it. but i think bitcoin is can recover without china.

Could be possible! Seeing this dip, look at total market. It's way down, there are working the strength whales whose are gaining in the way. Bitcoin is not going to much higher, but these whales are causing strongly.

No one know actually what's happening right now, FUD are everywhere you can't even know which one are the real news and which one the fake. Mt Gox trustee who sell their Bitcoin periodically are the one that I believe it destroy the bullish trends recently, it's big money. Other than that , idk.

Yes, i agree with you. It is not only the Chinese miners can manipulate the price of bitcoin by dumping. There are a lot of whales out there who could spell a difference if they are going to dump their coins.

I think your evidence is correct. China's squeezing of the miners has significantly reduced the amount of crypto that is mined daily. This severely affected the exchange rate of the cryptocurrencies market. This action by the Chinese government has severely influenced the development of crypto, which has led to a recent decline in the exchange rate of Bitcoin.

Mid-september last year, Chinese regulators decided to ban the Chinese currency, such as encryption currency trade channel, accusing it of be used to create all kinds of illegal fund raising, financial fraud and pyramid schemes, including contract fraud, money laundering, to avoid government regulation to transfer money overseas.

China's financial regulator has been "dismissive" of bitcoin and continued to monitor it.

While China's bitcoin mining companies cannot benefit from low electricity prices, they are still profitable.

I think in past we were facing such problems but as the investors are now increasing therefore i do not think that they can manipulate the bitcoin price too much, in future i think we will become totally free from such kind of problems and even the big whales will not be in position to manipulate the bitcoi price.

I have also read article about China's move to ban cryptocurrencies before and it was also the reason why bitcoin has has fallen down but to a big surprise, it was also the start of bitcoin's historic flight to the moon as it drastically rise to $20,000 after that drop.

Exactly no one knows what is the exact reason why all coins are dumping and what is happening to crypto market. I think people are blindly believing fake news which is telecasting in media, apart from this i don't know for what reason now the market is down.

Last time, they can be the reason but now it's because of Mt.Gox trusted dumping his coins. But it can also a combination force from other whales from China. No one knows what's the real issue and happening there after the banning of ICO's, we don't have any accurate information on what's the real score there.