[2017-01-12]PBOC Launch on-site inspections on China’s Major Exchanges

[hl5460]

11th January 2017, 4：47 pm, Beijing time, China’s PBOC issued another announcement that PBOC and Financial Office of Beijing and Shanghai have jointly began to carry out on-site inspections on China’s major exchanges including BTCC, Okcoin and Huobi respectively.

The announcement of PBOC Beijing reads:

http://news.8btc.com/pboc-onsite-inspection-exchanges

[LLec]

So does this mean even more decrease in the price if they find some ill advised exchanges being done during these inspections?
I thought they were going to start them in a week. This is not so good with the hammering the price took yesterday.

[hl5460]

So does this mean even more decrease in the price if they find some ill advised exchanges being done during these inspections?
I thought they were going to start them in a week. This is not so good with the hammering the price took yesterday.

Price will find its own way. The site inspection started yesterday.

[notthematrix]

So does this mean even more decrease in the price if they find some ill advised exchanges being done during these inspections?
I thought they were going to start them in a week. This is not so good with the hammering the price took yesterday.

Price will find its own way. The site inspection started yesterday.

Bitcoin is decentralized if iut needs to move out of china and go stealth it will.
It will evolve like it always did.

[Karartma1]

So does this mean even more decrease in the price if they find some ill advised exchanges being done during these inspections?
I thought they were going to start them in a week. This is not so good with the hammering the price took yesterday.

Price will find its own way. The site inspection started yesterday.

This could explain the last drop. But I definitely agree that the price will find its own way. Many had a good chance to jump off the train with a bag full of profit and they did. We go in cycles, if we do understand this that's enough.
Those of us see the true bitcoin potential will stay here as long as it takes.

[BellaBitBit]

So does this mean even more decrease in the price if they find some ill advised exchanges being done during these inspections?
I thought they were going to start them in a week. This is not so good with the hammering the price took yesterday.

Price will find its own way. The site inspection started yesterday.

This could explain the last drop. But I definitely agree that the price will find its own way. Many had a good chance to jump off the train with a bag full of profit and they did. We go in cycles, if we do understand this that's enough.
Those of us see the true bitcoin potential will stay here as long as it takes.

I also agree that the price will find its own way.  This is likely the reason for the recent drop and as this shakes out there should be a new normal.  Frequent "inspections" to these exchanges won't help much with PR for bitcoin, especially in China, but bitcoin always recovers from PR issues.  I am grabbing more on this recent downtrend.