Flash Crash: Bitcoin Price Plummets $400 in Minutes as China Rumors Swirl

[Cerbera]

Even if the Chinese completely abandoned cryptos, the market would recover and carry on upward.

[Omega Weapon]

That's a nice opportunity to buy and possibly arbitrage before it climbs back again. The Chinese are notoriously good in creating fud without us noticing, and in turn we also buy into the drama ending losing our coins in their desired price. Currently buying some small amounts rn. It seems that it wouldn't stop bleeding in the coming days.

Exactly. I saw someone saying that exchange in China is selling bitcoin at $3600 so its really good to arbitrage. And this dip again is a perfect timing for those new investors who want to get into the market. However, If I may add that the timing of the news coming from China is very off because we just hit ATH then they release their news and then FUD waves began to swarm us again. But I'll just prefer to hodl instead of dumping my coins. No way I'm gonna sell just because of the news from China. Bitcoin will remain standing and this bleeding will end sooner.

I agree, the timing is extremely suspicious is like they are trying to make the price of bitcoin crash with their news but even if the price can be affected by it, bitcoin is still holding strong and I have no doubts that the price may go back to normal in a few days, I think they do this in order to scare people away from bitcoin and try to slow down adoption as much as possible.

[TrumpD]

OP, I think you should change the title and add "CASH" after bitcoin. My heart did a flip when I saw the title, thinking bitcoin had crashed. That said, sub $400 for bitcoin cash is a fantastic opportunity to buy. Only a few weeks ago it was trading above $700. It is  value @ the current price and will surely gain ground in the coming weeks.

[DonQuijote]

Even if the Chinese completely abandoned cryptos, the market would recover and carry on upward.

If they abandone cryptos, Russia will be the new China, V.P. loves cryptocurrencies. Chinese should buy and hold before the bad news

[Tmdz]

Even if the Chinese completely abandoned cryptos, the market would recover and carry on upward.

If they abandone cryptos, Russia will be the new China, V.P. loves cryptocurrencies. Chinese should buy and hold before the bad news

China won't completely ban crypto, then they will lose their power to fud in the future.

This is nothing but a scam they run to scare peons into dumping coin into their wallets.

[asriloni]

Even if the Chinese completely abandoned cryptos, the market would recover and carry on upward.

If they abandone cryptos, Russia will be the new China, V.P. loves cryptocurrencies. Chinese should buy and hold before the bad news

they just cashed out their entire bitcoin and it's good, atleast china have no major control over the market and hardly manipulate it again. thanksfully to the fud that cause this outcome.
it's time for another big countries to take over the position of china, expecting big win at the end.

[Omega Weapon]

Even if the Chinese completely abandoned cryptos, the market would recover and carry on upward.

If they abandone cryptos, Russia will be the new China, V.P. loves cryptocurrencies. Chinese should buy and hold before the bad news

they just cashed out their entire bitcoin and it's good, atleast china have no major control over the market and hardly manipulate it again. thanksfully to the fud that cause this outcome.
it's time for another big countries to take over the position of china, expecting big win at the end.

I do not think that is what it happened, with the increment in regulations in China there is no doubt that this will cause some people to let go of their bitcoin, but some people will keep holding their bitcoin no matter what, but the influence of China is slowly diminishing and with the recent adoption of Japan I will not be surprised if Japan became the most dominant country in bitcoin in the next 5 years.

[Kyraishi]

Even if the Chinese completely abandoned cryptos, the market would recover and carry on upward.

If they abandone cryptos, Russia will be the new China, V.P. loves cryptocurrencies. Chinese should buy and hold before the bad news

Not really, Russia seems to have a plan to regulate the cryptocurrency sphere completely and make it centralized instead of decentralized. So even if Putin loves cryptocurrencies all he's going to do is create centralized cryptos that are useless and worthless.

BTC is down quite a lot again today, perhaps because the recovery went too well yesterday(almost +$700 in one day).

I think that most likely price will stabilize at $3000-3500 for the month, before adjusting down to $2500-3000 next month.

[surix]

If complete ban from a major country can only cause -400USD to BTC, I would say it's very impressive and admirable how people are believe in it.

Come on, from ATH 5000USD to lowest dip 3000USD it's only a -40%, you can check back to 2013's drop, and BTC still recovered from that one which was much worse.