whenever price rises the media goes crazy about it, i even saw bitcoin on the front page of major news papers. i think it was once on front page of NewYork Times or something like that. that obviously piques interest of people who in turn will start searching about bitcoin. and there is obviously more adoption and more investors coming in who will search about bitcoin to learn more about what it is, where to buy, where to sell, how to store,...

also whenever there is a rise there is a reason for it. and that reason usually increases the activity too. people search for that reason like the halving of last year.

first of all this is bitcoin board, stop advertising altcoins that you wish to get pumped here

secondly, who said China will ban bitcoin

finally, history has proven that whenever bitcoin price drops, altcoins get dumped all over the market and they get dumped harder even. there is no exception. specially if something is tightly related to the news such as your China FUD, it will get dumped even harder.

i don't think users will like this, they mostly like the reality of the money they get even if it is so tiny.

but it is a good suggestion that i agree with. something like a demo account or in-site funds. it doesn't even have to be called bitcoin. it can be called BitslerCoin (or something cooler) that people can switch to like they switch to bitcoin/LTC/Doge/Burst/... and play with that and they can get a bigger amount of it too. for example claim 0.01-10 BitslerCoin (which is not-withdrawal-able obviously) and try their strategies with it.

i always say holding altcoins is not at all a good strategy let alone be a good idea but still so many people prefer that. so i guess it can be based on what you think works for you. if you can make profit by holding altcoins and have experience in it already then do it. for example if you held a dozen altcoins for long term multiple times and made profit then maybe that works!

but for me, i prefer trading them. i don't want to take the huge risks of holding an altcoin just to get dumped on or be left hoping for a rise that will never come. although i have exceptions about coins that i really like for example Byteball. but the rest of them i just dump as fast as possible.

you can never say if it is good or bad. maybe some people prefer this way of trading. some people are naturally high-risk-takers. they enjoy the risk itself! sometimes it works and that huge risk gives them a huge reward, sometimes it doesn't work and their whole life is ruined.

the question is how someone who is doing such a thing is handling the risks and what are his/her plans for each scenario in case something went wrong. for example can they pay back the mortgage if they lose it all in trading? if yes, then i don't really see any issue with something like that if they can accept the risks.

a big swing like this can have many reasons.
- a bug in the system that shows a false price on the charts
- a very small market with thin orderbook that a medium buy order caused such a rise (for example someone bought 0.1BTC worth of it and it went to the moon!)

in this case, FunFair was added to bittrex on that date! the starting order was probably set on 0.0023BTC and someone (probably the same person who set it there) bought it and the system saved that as the price. but as you can see the price of that day dropped down to 0.00000821BTC.
in other words a fake order caused the fake 10x (a lot more though) rise you saw.

set the chart to 1 day and see for yourself:
https://bittrex.com/Market/Index?MarketName=BTC-FUN

China thing was just "news" and the news is already priced in. it can not get any worse than this. and they never banned bitcoin, the Chinese are already buying cheaper coins from other places such as buying p2p and with cash off the exchanges.

we also already have a very good point of reference to compare the effects of Chinese exchanges on the price. and that is the couple of months ago when they called it "inspection" on the news but it was the same as today. they closed them down to regulate them more strictly. by then price took a dive like this and after they closed the exchanges price went up about $2000

i don't understand the word "cash out" in this context
if bitcoin is worth $1,000,000 that means the adoption is so big that almost everyone is using bitcoin. and you do realize that bitcoin is a currency right? in which case it doesn't really make sense to "cash out", you just spend the coins that you have been hoarding! for example you want to buy groceries, great buy them with bitcoin that is now stable and above $1 million and enjoy your profit.

altcoins have no real usage but still they issue huge amount of coins. the big supply with a little to no demand means a falling price. specially in long term as miners get the huge rewards or the supply is distributed in other ways like PoS reward or ... there will always be a huge sell pressure on the market.

at some point it won't matter! if they can get pumped they will be pumped and it will be profitable. the question should be which one will be pumped sooner. that one will be profitable now and the other later.
i have not seen or heard about Verge much but XRP has been pumped hard recently and it seems it may not have any major pump coming its way any time soon.

look at the number of transaction that has been processes and compared it with last year before the major spam attacks.

the thing to pay attention to is how the number of transactions have grown. long time ago there were a handful of tx, then it grew more and more and blocks became half full. then the growth continued over the years and blocks were nearly full. then from about a year ago they became almost full and at times even more transaction that blocks could contain.

this was when the severe spam attack started. blocks were full and mempool filled with crap. that never changed the trend that was going on, the usage still grew but it was impossible to see that trend anymore because it was hidden under "noise".  not that spam attack has stopped we are back at that trend and we are seeing where it really is = full blocks

this obviously is not it.
it is not just about looking at the number of transactions, it is about the fact that there is no usages for BCH!

this has always been the case, nothing has changed about it so it shouldn't change the number of transactions that are being processed. if anything it should increase since more people buy and transfer to their cold storage.

there is nothing "bad' about bitcoin for day to day transactions. and there has never been any. it is even an excellent choice in some cases for example the option to buy from Amazon with huge discounts using some services. off-chain solutions won't change anything about this or price. off-chain is off-chain and only for certain users who prefer that.

again nothing has changed!
you are suggesting that people suddenly had an epiphany and stopped using bitcoin all at once!

bitcoin is global and it will always remain global. China, US, .... don't matter and should not matter. most people invest in bitcoin because of that. because it is not controlled by one country, or group,...
at the end of the day bitcoin is still the same decentralized cryptocurrency with the same features and it is still with the same limited small cap. and nothing is going to change that.

additionally China never banned bitcoin and there is so little chance that they even want to do something like that based on what I have seen so far. and like last time they closed their exchanges, people will still continue buying bitcoin through other methods.

this is not new! they have been working on it for a long time. the plan to create their own blockchain has been around for a couple of years now and they are working on it hard. but it won't be exactly the same cryptocurrency as we know. probably won't even be public or open source or anything like that. you will just have access to the wallet they issue and nothing else.
in the end, no matter what is created, bitcoin remains the decentralized cryptocurrency that everyone knows. and theirs will be another altcoin a heavily centralized one this time.

it is centralized but what does it even matter regarding the pump and dump?
XRP was heavily pumped and now it is in dumping phase so it won't move and mostly go down over long term until it reaches its real value and the real bottom.

what matters are two things: supply and demand.
the usability is null which means there is not much demand for it apart from when it is being pumped.
the supply is the coins in circulation and that is ridiculously huge.

huge supply + no demand = dropping price.

it has nothing to do with ASK or BID. these two only show which orderbook your order belongs to the asks or the bids or in other words if you are a buyer or a seller and it has nothing to do what what OP asks.
it can be either one of these orders. you can place a "sell" or a "buy" order and be a MAKER in either case.

maybe it is just me but i see winter coming to anon coins.

you see one of the biggest concerns of any government in the world has always been illegal and shady activities. pirating is one of the examples. and the more these anon coins are being associated with these illegal activities the bigger the government concern will become. they may even announce any coin with ANON feature as illegal.
of course that won't do much but it will be a start.

in other words ... just like last time!

last time when Chinese closed down their exchanges, the volume of some other exchanges went up but the most rises were in over-the-counter type exchanges. and this time the Chinese government even said in their statements that OTC trading is fine.
and that is why it always made me mad to hear the FUD saying they banned bitcoin!

i always like to imagine the bitcoin price as a spring which the whales and all the FUD around presses on hard and make it go down and gather a lot of potential energy. when the FUD is released and whales stop dumping it springs back up and it does it very fast. and that is what happened there. the pressure was removed and price jumped back up because there is a very real and very big demand of bitcoin and when the rise happens the FOMO buyers who are also weak hands start buying again.

you can never tell when Charlie Lee is kidding/trolling and when he is serious that is most probably why most people were calling him out on what he said. in any case there was no logic behind this kind of dump for bitcoin just because China was regulating its exchanges like before! i mean the first time they did it the price didn't drop like this, why should it drop now?
of course by that time the "news" was saying they are regulating them.
but this time the "news" was saying China banned bitcoin! the next level of FUD

Chinese and all the rest of the miners will continue to do whatever they were doing before. the small time miners don't usually sell their coins since their costs are not that high to want to cover it by selling precious bitcoin. they mostly hold and if they want to sell there are many was to do it still.

for big time miners like the big farms, they always had their own way of selling. they rarely used exchanges. using exchange lets the government also know how much you have earned! so they will continue using what they have been using before.

the Japanese volume went up a long time ago when they started talking about legalizing it and then the volume went to the moon when they actually did legalize it. then it grow even more when the biggest Forex broker in the world which happened to be in Japan added bitcoin trading. and finally it grew a little more this time when they removed taxes on bitcoin payments.

i don't understand you to want to agree or disagree with it

a total drop can not be bigger than 100% because price can not be negative! it is 100% max when it drops to zero. and i don't recall any coin that has dropped to zero during the FUD craze.

and in my experience China and JP Morgan, etc are just tools, they can be simply replaces, it is the market that wanted to react to something and that something happened to be the good ol' China FUD that always works seamlessly.