It is very likely now that step by step, every exchange that has its residence in China will make the same move.
I am wondering if they know more than they tell. Closing the exchange willingly, I can not imagine that.
There must have been some kind of hint from the authorities nobody wants to confirm.
I suppose that they are given the choice that they have to announce they are closing on their own will in a given period of time or they will be shut down after that.

From all I have read, people in China use bitcoin to transfer money into other currencies and abroad.
On a larger scale. That capital is missing in the chinese economy.
What the government in China does is protecting its economy.
I see no conspiracy there, just a reaction on an existing problem.

Businesses and people in China have been using many methods to bring money abroad.
Manipulated import-export-payments and life insurances, for examples. China has closed those gaps, that's why people turned to bitcoin.
Now China is regulating problem they have with bitcoin.

I think that the importance of the exchanges is China is overestimated.
Right now the price goes down because the chinese bitcoin owners fear that their coins are useless once the exchanges are closed. And I assume that many buyers are not sitting in China.
The lower the supply of bitcoins in China, the less important their exchanges become.
That sell out must be over at a certain point because not even China has an unlimited supply of bitcoins.
And then the coins once concentrated in China are distributed over the globe. Really decentralized.

I have just read an interview with Vitalik Buterin.
Even he thinks that many of the ICOs are worthless scams.
The investors can not distinguish between projects with real technological potential and those who are free from any value.
It loooks like he is sharing Chinas point of view regarding the ban of ICOs.

... or this is another spam attempt.
We had these in the past, and with declining price of bitcoin it got cheaper to pull one off.
If somebody wanted to take another hit on bitcoin, now would be the time he would choose to do so.

JP Morgan boss said as well that he would fire every anyone trading bitcoin.
I guess he would very soon be the only employee in his company then.
If he does not own a few bitcoins himself. That is not clear to me at the moment.

'...will simply lead traders to the Japanese market, which has been efficiently regulated by the government over the past 12 months'

That is something I am assuming as well.
Chinese citizens might have a problem registrating at the japanese exchanges, but for the rest of the world bitcoin trading will go on.
Japanes has seen the problems China has and solved them through regulations before they became a problem in Japan.
It might take a little for the public opinion to notice it, but Japan will become (perhaps already is) the new center for bitcoin tradings.

Not every government sees bitcoin as a threat.
Most of them actually do not. Why should any of these play with the thought of making it illegal.
There are only a few contries where the government fears bitcoin could be a danger when people use it to bring money out of the country.
Unfortunatelly China is one of these countries.

It's all depending on the news. If nothing happens anymore I guess we stay where we are.
If more investment managers want to express their concern about bitcoin, maybe 3000$.
In case China closes exchanges I would say 2500$.
In case both of the above, still 2500$. In that case nearly nobody would take notice of the manager concerns because the news would be flooded with the China ban.

Bitcoin seems to be chaep compared to end of August.
Bitcoin seems to be expensive compared to beginning of August.
Nobody knows where we are heding at the moment.
But what is really important is not to use more money than you can afford.

I think that is necessary in every investment to diversify.
Risky investments combined with safe ones, from different fields.
I think the trick for an investor is to weigh the chances against the risks, that is very important.
And according to that your investment as a whole should be positioned.

It is a big problem that many newcomers to bitcoin in the past few months are not very familiar with speculative investments.
They are/were used to is to see an increase of price, and only that. And if you looked in the media, that's what most of them reported about.
Now they see something they ar not used to: a decrease of the price. And already phantasies occure about the worlds end.
No, it's not the worlds end. It's not the end of bitcoin, and it will not even be the end of bitcoin in China.
All we have is a normal movement of a speculative investment.

I am a hodler as well.
In my case, only a small part of my general investment is in bitcoin. Even if the price goes down further, that would be sad to see, but not really catastrophic for me.
But others might have bought at a much higher point, with more money than they should have. I can't really advise them what to do. I can understand if they want to cut their losses.
Nothing is certain at the moment.

I think as well that this might not be the end of the line.
Nothing is certain, all we have are rumors and the intention of one exchange to stop working in 16 days.
I already have coins, these I hold. No matter what.
But rebuying right now into the market? That is too much of a gamble for me.
I can imagine that more exchanges will follow the example of BTCC, that can lead to more disturbances on the maket and an even lower price.

If you want to have one whole coin for it, you could take a look at litecoin.
It's at about 52 dollars at the moment, so very close to the 50 dollars you want to invest.
I know it's just some psychological thing, but many people want to have one complete coin.
Maybe because it's easier to calculate with it, too.

They are closing on their own will. Not because they are shut down.
So I guess they will have a plan on how to proceed.
Reopening in anothere country, that is the step I expect them to do. Everything else would be a really big surprise.

Using bitcoin abroad means that you have to travel in a country where its use is common.
But in general I would say that you have more instability through the volatile nature of bitcoin than you have when you exchange it in a local fiat.
Bitcoin does not only go up. And when you are on vacation you can't just wait until it recovers because your trip is mostly limited in time.

Looking at the market depth at some exchanges, I see a bigger buy orders at 3400$ at the moment.
If it will really hold, we have to wait and see.
It is all depending if we get anymore disturbances through the news.

Well, today the first excahnge in China really announced that they will stop trading on 09/30.
I think that BTCC wants to get ahead of things. Instead of waiting until they might or might not get closed down by authorities, they close on their own terms.
And I assume they will reopen their business in another country, where they will not have the problems they face at the moment in China.
Because one thing is certain in my eyes: even if no exchange gets shut down this time by the central bank in China, it will only take a few months untill we have that whole discussion again.

Bitcoin going to 3K that would mean going down about another 25%. I do not see that.
We had an overheated market in the beginning of September, banned ICOs, rumors about closing exchanges and defamation of an investment CEO.
All that together was not enough to brin bitcoin down 30% from its highest level.
Meanwhile I see bitcoin owners getting used to the bad news. And therefore no reason why it should go down much further.