Yes, it happens. Whales are manipulating the market. They have the power to influence the price because they have the biggest amount of Bitcoin at their pockets. Just by selling huge amount of Bitcoins, it affects the price of Bitcoin and create panic which can lead to massive sell out which makes the price crash. The whales are getting the benefits of it because they are gonna get cheaper Bitcoin and makes huge profit. Sometimes they're making fake volumes to attract traders and dumps when they think they get profit. This is very hard to control since they've got large portion of the supply.

As Bitcoin falls, expect other cryptocurrencies to fall too. That is normal. Huge amount was pulled out from the marketcap. That's the reason why we see every cryptocurrencies to bleed. Just wait for Bitcoin to recover. And other cryptocurrencies including NEO will recover after. We're at the bearish season right now. So we can't expect all cryptocurrencies to turn into green. Don't panic. Everything will be back to normal after the major exchanges like NASDAQ and other huge exchanges are ready to accept Bitcoin. I heard that they are just clearing some things before they accept Bitcoin. Bitcoin surely recover when it's ready as huge capital will go to the marketcap which makes all cryptocurrencies to pump(including NEO)

Bitcoin was introduced back in 2009. And it's price was only $1 or cents that time. Now it's price is $6000+ after 9 years of it's existence. I can say that cryptocurrency is good for long term. But im not saying that all cryptocurrencies that are existing these will be grow over time. Everyday, there's a cryptocurrency being born which is way more better. That's why there's so many cryptocurrencies didn't manage to survive for long and died later on. This is also a battle of the strongest. Weak coins are not gonna survive and the strong one will keep on rising.

Dumping is really normal for Bitcoin or any cryptocurrencies. But we know the reason behind this crash. Whales are doing good at keeping the price down. For me, i don't see it as a bad thing. Actually this is the right timing to get some more of it because the support for $6000 is strong. I don't think Bitcoin will fall below $6000 in my opinion. I guess most newbies who bought at high price are very frustrated about sudden drop of it's price. But keep in mind that this already happened before. Bitcoin crashed and bounced back and created a new heights.

Just relax and wait for Bitcoin to bounce back. Billions are already pulled out from the marketcap. So i think it will take some time to bounce back. But im pretty sure it will.

That's right actually. But one thing that makes people to stay away from them is most of ICOs these days are scams. I remember tezos. They have collected huge amount and turn to a scam. Dev team is great too. But turned into a scam. That proves that no matter how people are known personalities doesnt mean they cant do bad things to you. Maybe thats the reason they choose to buy known cryptocurrencies at the market than buying ICO coins. But in terms of profitability, ICOs are the most profitable because it's more cheaper but more riskier.

Yeah, it's possible to reach that price. We're just at the second quarter of this year. For me, many things can happen. Also, we're still at the bear market right now. We can't expect Litecoin to pump that high easily. Market needs to recover first before we see Litecoin to pump huge. The record high of Lite as far as i know was $375(correct me if im wrong). That's before the 2017 ends. So, for me $200 still possible. Anyway, it's all up to dev how they improve this Litecoin.

$2000 is not possible IMO. There's no way Bitcoin could reach that point because Bitcoin is already at mainstream now unless government want to get rid of it by closing exchanges prohibit people for using Bitcoin. For me, if Bitcoin crashes. It could fall atleast $5000 and that's the rock bottom. Anyway, i think FUD is over. We can see Bitcoin will rise anytime soon. So relax and enjoy the ride..

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Not, obviously and never will be. Transaction cost is huge and it's getting worst. It needs upgrade to make it useful for us for our daily use. Cryptocurrencies are source of income for everyone. So no person is dumb enough to spend it for his personal needs. Why would you use cryptocurrency to buy your needs if theres cash. It's fast and low cost. Anyway, LN(lightning network) should be implemented to make faster transactions for Bitcoin and make the transaction fee more cheaper. But still on development.

I would like to apply...

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Would like to apply if theres still open slot for hero rank. I want to work with you again.

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I would like to join.

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Because localbitcoins.com it self don't have the control over the seller on their site. The seller has the authority to change the price which the seller could take advantage of that. That's the bad thing localbitcoins. Some sellers are abusive at their pricing. They price too much compares to exchanges regular price. Others are scammers. So be careful dealing with sellers there. Make sure you check everything before you make order to avoid mistakes which cause you losses. I saw a user here bought $200+ worth of Bitcoin for $875. That's not even on it's half.

Korean Regulation Fails to Shake Bitcoin Market But Could Wipe Out Some Exchanges

After South Korea’s regulators announced their emergency measures for cryptocurrencies, the bitcoin market breathes a sigh of relief. While a blanket ban was not adopted, other smaller bans remain and a clampdown on virtual bank accounts is presenting a serious challenge to exchanges.

Bitcoin Market Relieved

The South Korean government held an emergency meeting on Thursday to adopt some measures to regulate the cryptocurrency market. The measures were announced to the public on the same day.

The regulators said from the start that they aim to curb the overheated cryptocurrency market. However, their announcement did not have a large impact. According to the Herald Corporation’s the Investor:

"The market appears to be relieved because a blanket ban suggested by the Ministry of Justice was not adopted.

Last week, news.Bitcoin.com reported on South Korea putting the Ministry of Justice in charge of a new task force aimed to spearhead regulations. The Ministry of Justice has been considering strict measures including a total ban on cryptocurrency trading, which was not adopted at the emergency meeting.

Meeting Notes Leaked

Approximately 2 hours and 40 minutes before the government’s final announcement, some meeting notes were leaked and posted online. “The online community posted photos of the conference materials at 11:55 am,” Joongang Daily reported. However, the leaked document is not the final version of the regulatory measures and some points on them were not adopted.

Nonetheless, referring to the leak, the prime minister was quoted, “It is very shocking and unacceptable to me.”

The regulators’ final announcement was made via the Office of the State Planning and Coordination Center. The Office held a meeting attended by the deputy ministers of each ministry at 10:00 am on Thursday Korea Time and sent an email out to the press at 2:37 pm.

During the actual announcement, the price of bitcoin trended downward only slightly before spiking up 7% from 18.158 million won to 19.345 million won at 5:20 pm Korea time.

Bithumb Responds to Ban on Foreigners and Minors

The final measures announced by the regulators include “banning foreigners and minors from opening a new account and those who already own cryptocurrencies are not allowed to make additional purchases,” the Investor described.

An official at Bithumb, the country’s largest bitcoin exchange, told the publication on Thursday:

"The latest measures [on minors and foreigners] won’t have much impact on us as we are already very careful with minors and foreign investors. But they could hurt smaller and unorganized platforms which allow teenagers to trade virtual currencies.

Clampdown on Virtual Bank Accounts Could Force Some Exchanges Out of Business
The measures also include banning banks from engaging in cryptocurrency-related activities and clamping down on virtual bank accounts, which news.Bitcoin.com first reported on Wednesday.

“Cryptocurrency market watchers are crying foul about the government’s clampdown that called for banks to stop issuing virtual accounts for digital currency exchanges,” wrote the Investor. An official at a crypto exchange told the publication:

"This is perplexing because the use of virtual accounts was a government initiative. We were close to signing a contract with two major banks for virtual account services but yesterday morning they told us they cannot go ahead with the deal. If all banks close their virtual accounts services for cryptocurrency platforms, then the platforms will go out of business due to a lack of alternatives.

The news outlet pointed out that there may be other ways to transfer money for trading in cryptocurrencies, but most transactions are done via virtual bank accounts. A Bithumb official announced:

"We are reviewing alternative methods. Even if we cannot use virtual accounts, there are ways we can make sure that there are no obstacles for opening a new account or making transactions.

According to Hankyung, given that the announced measures were not as severe as previously indicated by the Ministry of Justice and the crypto markets continue to grow, “the government announced that it would prepare additional measures.”

https://news.bitcoin.com/korean-regulation-bitcoin-market-exchanges/

It's good to know that Japan is really making Bitcoin as a part of their lives now. Making Bitcoin for the salary for workers seems interesting to see. But how about the fluctuations of price? I think it's gamble for them to accept Bitcoin as their salary. It's very volatile. But i love their optimism on Bitcoin. They really embrace Bitcoin. Japan is really the Bitcoin Paradise. No doubt about that. About the first news, it's fine. There's nothing much positive on that as they are just selling seized Bitcoins. It's just to convert them to USD.

That's possible. But i don't think Litcoin will hit that price before the year ends. I don't even k ow why Litecoin pumped up that hard. But i expect it will drop as soon as Bitcoin price surged again. And that's on December 18. This year is all on Bitcoin.


Is this true? Have not heard this news before. Litecoin will skyrocket if that happens. But i think Bitcoin Cash (BCC/BCH) has the potential to be added on CME.

No. The opposite will happen. When Bitcoin crash, altcoin market will surge. That's what is usually happens. If altcoins crash, Bitcoin is pumping. But in rare occasions, Bitcoin crash and altcoins crash too. That's a rare scenario. But it actually happening. However, Altcoins can still survive no matter what.
happen. Anyway, expect Bitcoin price will surge again soon as the CME will add Bitcoin to their futures at Dec. 18. Expect altcoins to bleed again because the Bitcoin will suck most of the volume from the altcoin market. So hold Bitcoin for now. Just to be safe.

Wow, that's not even near to the total amount you buy for that BTC. Not even at it's half actually. That's too overpriced. It's not the fault of the exchange. But atleast they should check what's happening on the transactions. There's so many fraudsters and abusers on localbitcoins. They are offering Bitcoin for a very high price than any exchange offers. They must remove them. Maybe next time try other exchanges. Coinsbase is good too. You should try this instead of localbitcoins. At the current price of Bitcoin, it's at the peak right now. Maybe it will take time to recover your loss.