About the Post-China Hangover and the BTC Price Diving...

[affigne]

It is kind of alarming that BTC price has not been able of rise and maintain beyond the $4000 barrier, instead, it has been diving towards the 3000$ and even deeper. According to Charlie Lee, the creator of Litecoin, this is happening because of traders with "deep pockets" that are "propagating fear, uncertainty and doubt to manipulate the bitcoin price". But of course, the Post-China Hangover is still wreaking havoc in the cryptocurrencies market, which is alarming, for this can lead to a series of actions and announcements that hit further, inflicting more damage to the already hurt cryptocoin... What do you think about it?

Let me know your opinion guys


source: https://www.cryptocoinsnews.com/bitcoin-price-dives-to-3563-as-post-china-ban-hangover-continues/

[stompix]

My opinion is that we already have reached the point when we have more threads about China than the current price in $.

So, unless we have an official position by which I mean law written and passed by the Chinese government we should all stop creating useless and endless discussion about it.
Give it a break already, we have already a hundred or more of conspiracy and manipulation threads.

[EthereumPY]

My opinion is that we already have reached the point when we have more threads about China than the current price in $.

So, unless we have an official position by which I mean law written and passed by the Chinese government we should all stop creating useless and endless discussion about it.
Give it a break already, we have already a hundred or more of conspiracy and manipulation threads.

indeed

[affigne]

Unfortunately, China's influence in cryptomarket is huge. Else, fluctuation every time somebody rumors about China doing and messing with bitcoins would be zero, ergo, nobody would be talking about them...

[jseverson]

I normally would not swallow anyone's word when it comes to Bitcoins because everybody has something to gain one way or another. In this instance though, I think Charlie Lee is right. We've seen it happen with Dimon. The news articles harping on the bursting of Bitcoin's bubble have always been rampant, but they do seem at least a little more noisy the past few days.

Either way, I do believe we will get back on track to $5k, but with things looking like this, it might take more than just a few months. $3k as a low is still pretty damn high so I would not sound the alarm just yet. Brighter days are ahead of us.

[|Bitkoin|]

The BTC price is never really diving when you zoom out on the price timeline that you're looking at because if you look from the beginning it looks as if it's rising exponentiontally.