Bitcoin Forum

Is there any positive outlook that its going up again fast to $4500 and more?

No.
Sell now at $3000...


(just kidding...)

Omg bitcoin is deeping down so fast because of a single cause. Lets look where it stop and get back. As we earlier saw bitcoin have enough potential to hit back. Hope that bitcoin has still potential.

I hope so but 90% of trading was by chinese, so if they now break away ?

I mean its absolutely fucking STRANGE because this is all based on some very short articles missing LOTS of details and real information.

Stay away from the market as the hurricane passes by. This is clearly the worst time to sell today ... Chinese whales must think they can lower prices a bit further, but there is a time when they will reposition themselves ... The bitcoin has such a price, this is gift, so do not panic and do not sell now!

Isnt the actual worry that chinese whales cannot trade bitcoin anymore ?

That's FUD. Chinese exchanges were faking volume since the beginning. THat's why they were threatened to be shut down by their government some time ago.
China is a funny country, they're stealing technology from others and making their own versions, manipulating price of BTC through fake news and verbal warnings, come on is it this hard to say BTC is banned or is not banned? They don't want to take a stance because they're making money on this and disrupting the market worldwide. It's just a show.

I wont . I have to buy some Crypto's now lol.

Jeez. There is p2p, there is even decentralized exchanges on the blockchain

This ban is like banning alcohol in bars; it is like fighting windmills....

It will only accelerate the development of shadow markets and from a crypto point of view, this is a good thing - government  lose control. IMHO Chinese government will soon discover that controlled exchanges would have been preferable.

Meanwhile, in the real world, many countries are legalizing drugs to move them out of the shadow LOL  :D

Good, let the rest of us buy up the $3000 btc, and let the Chinese get back in when it's $7000+

Well said. The problem is that people don't see it. Many don't even follow the news they only trade and look at charts. When it's falling they sell and that's it. No breakthrough technology, no FUD and no China. Just numbers and money flowing one way or the other.

If it goes below $3000, you can be sure we might not need whales to recover the price. People would be more than happy to buy at 40% discount.

Well, there is maybe they are waiting for the price to drop around 2000 USD and they will buy a huge amount of bitcoins.
In case it stays between 3k to 3.5k $ then it might become a stable amount of Bitcoins for a few weeks.
let's see what happens

Don't stay away, buy in while the price is low and enjoy your profit once the market recovers just like 2-3 months ago!

Wait, its at what?

Yeah, I dont care.

It'll take more than that to shake me!

There is a positive outlook on the recent crash or whatever people want to call it,all I know ,if you are a trader or a investor you will consider this as an opportunity for you to get profits,you instead of dumping bitcoin will hold and buy more rather which will make the market more stable if the numbers are more,but then people dont act like they say and when something bad happens they forget what they say and dump all their cryptos immediately.

Maybe this time it's easier that bitcoin pumps again because same people trying to sell will try to buy again sooner.

These days the bitcoin price keeps dropping, I'll wait for the best time to buy as much as I can, the month of October the bitcoin price will go back up.

Sensible analyses. Yeah don't let emotion get you to panic sell. China has been a big historical driver of btc price, but even if trading btc were banned there, it wiuld still happen in smaller amnts, and likely such a ban wouldn't hold longterm. Cryptocurrencies (some of them at least, vast majority of them don't offer anything new or useful), any ban in thier sale or use by industrialized nations is unlikely to hold longterm, coutries would be shooting themselves in the foot too much.
Even if Btc is banned in China, my mid to longterm outlook is still bullish. I saw a chart in a zerohedge article where most wallstreeters percieved that most people's were long bitcoin in opinion, but not in actual investing position! Which makes one scratch thier head a bit.
Buy around or sub 3k, might take a few weeks to recover to 5k, who knows, but don't sell everything, and don't panic sell - you'll likely be transfering wealth to whales

Ahh no. 90% of the trade volume came from Koreans, Japanese, the West, Indians and the Chinese and not China alone. It's been quite an issue for Chinese for a couple while now about faking trade volumes on their exchanges. Also, it's not strange. One door closing for bitcoin will result into a stirred reaction in the market plus the fact that the CEO of JPMorgan Chase made some very interesting (and negative) remarks about bitcoin, so no it's not China alone.

Uh, hello?  We didn'tit anything below $3000. I don't believe we even touched that
in the past month.  And we don't need China or any one country to buy, nor even
any whales necessarily,  in order to rebound.  We just need the people who believe
in bitcoin to buy or at least hold firm.  Either way, it's OK. Where we're at is a good
level and bitcoin has still had some unreal gains this year.

Yes, the price did not go down below $3,000 and it is slowly going back up. FUD are everywhere and many are panic selling but now, we can see that bitcoin is stronger and China is not the only exchange of bitcoin and now, they only hold a small market share. They are being strict in their regulations because of the incoming National Congress but after that, maybe they would have some changes again and then would have news again of bitcoin exchanges resuming operations.

It's time for those people who panic sell to see the reality that China is just a part of the market share and not the whole of it. There are many countries that hold a larger part of market share than China. Many countries are regulating it and it is getting popular that's why some businesses who are greatly affected by the bitcoin rising and getting attention threaten them thus spreading news that bitcoin will just be worthless in the future.

That's true. Canadian laws are getting more and more relaxed with pot. But China has gone the opposite direction with something just as 'radical. What a fail. They aren't 90% of the demand. It's all smoke and mirrors.

wait for the bottom, then spread news about bitcoin, bring new people to this world. There are still billions of people don't know about bitcoin. Price will recover without chinese whales involved (maybe we'll creating new whales)

I was not informed or I forget that idea. I though docking would be enough. Hahaha. Nice I will take it note, "hurricane Panic is destroying the market at now", please refrain from looking and take cover inside your bunker. Thanks I would have not remembered this if you don't have reminded me. That is the best thing to do as of this event still happening.

When we read news about bitcoin now ,we might really change our perspective knowing China bans it and it is all over the news that makes other users dump btc. Hope dump will be a little bit slower, it's way too fast. That I don't know when will I'll be going to buy many of it.

We had this same scenario a few times now. Every ATH China bans BTC  ::)

Lets hope they finally ban it.

The thread's title is clearly trying to spread FUD.  To put everything in context, China accounts for how much of Bitcoin's total volume?  10% - 15%?  I'm pretty sure after all the FUD (yes, I thinking China is spreading its own) and manipulation, we're on our way going back towards new ATH again.

just wait and see and don't attract to the bad news, its just another drama or scenario from the people which don't like with bitcoin. not much we can do unless waiting and if we have balance, then we can buy again. i wonder what chinese people do if their government banning bitcoin?

It's already happening and whether it will continues to decline or soon it will be rising back, which obviously this incident seems to make me to no longer want to hear the news / events in China, this make me sick. Can only wait and expect bitcoin prices to rising back after this, hopefully everything will pass quickly and we can see again the beautiful light of bitcoin that can giving a good hope to everyone.

As it is now, price is yet much, much higher than it was at the beginning of may. Aren't we happy with such a wonderful raise?

I will hold. Even with this big 1000$+ crash, Bitcoin always ends up higher. It advances 10 steps and goes back only 3.

People always discard the huge load of positivity we have gone through, when the market takes a dive towards the South. At this point it's likely a matter of hours before we see the first USD exchange dips below the $3000 level, but even if it falls down all the way to $2000 flat, we are still up 100% this year. At the end of the day, we shouldn't let this recent China panic weigh to heavily - a correction was due anyway, and the peak to nearly $5000 was coming from a market being heavily overbought. People should have cashed out their profits at that point, where they right now would be in a very decent buy back position. Aside from me trading the market, I will start buying back a decent number of coins as soon as we fall back to ~$2500.

Selling is too late already. If people wanted to sell so badly, they should have liquidated their profits at +$4000 levels, and not dump in panic right now. It's not only a sign of weakness, but it shows that you have nothing to do in this market. Instead, use this opportunity to buy on the way down - it will allow you to lower your overall buying price significantly.

Correct. When you buy on low price, it also helps Bitcoin to recover that price slowly maybe 1 or 2 months Bitcoin would be back to $4000 (I hope so) but panic sell still dominated on most exchanges, just watch out for this.

China may ban bitcoin, but the biggest issue here is most people fall to panic sell following Chinese people.
PBOC will cease exchange trading by the end of September, Chinese whales won't buy back if they can't sell bitcoin in the end.
It's better if Chinese people sell-off all of their bitcoin out of the country which will be beneficial for bitcoiners across the world to buy more cheaper bitcoin,

People are panic dumping right now and i think that it is likely price is going to stay below $3000 for a while.

However, $4500+ could be possible if BTCChina decides to reopen their service and/or Chinese government clears up all the FUD regarding them wanting to shut down all exchanges and reconsider their decision to ban ICOs.

Otherwise, i think that the short term target is $2500, potentially lower. Recovery is going to be slow and hard.

If Chinese whales din't buy

Japanese whales will
(if the Japanese people actually don't eat the whales...lol... such irony)

https://www.cointelegraph.com/news/japan-becomes-largest-bitcoin-market-as-traders-leave-china

I think that many users hope for a positive solution to the problem with China. Perhaps it is the Japanese users that will make a positive impact on the development of Bitcoin and everything connected with it.

I am pretty confident that China will come back as a significant actor. The Chinese gvt is not dumb and the only thing they have to do is regulate.
A copy paste of what we see in the USA is perfect

a- Exchanges need to be certified and validated to trade BTC-ALT pairs.
--> Only the top ones in China will remain.

b- Trading BTC-FIAT requires a specific licence, like Coinbase has (close to a banking licence for instance)
--> Maybe the sites will limit the volume of CNY you can put in. For sure, only a handful will be able to do that, and they will have to ensure a strong KYC solution so that the PBoC can track movements of currency.

c- Cleaning up the mess with ICOs.
KYC is key. NEO should become the official currency for ICOs, assuming they comply with strict KYC solutions
--> maybe only the exchanges allowig FIAT trading, hence having this KYC solution will be able to pilot ICOs, using a NEO Wallet.


Once this is done, China will come back to its normal weight in the ecosystem: 20%-30% of trading probably.


Bottom line:
Look for 2 things today
1- put a bit of money on NEO and QTUM. These will moon the moment the PBoC communicates its plans.
2- find the Japanese ETH... (note: it may be ETH... LOL)