UPDATE 2-China bars banks from bitcoin transactions

[nmtrader100]

If I am not mistaken, there wasn't a single bank in China conducting bitcoin transactions prior to this forward guidance, which coincidentally- is the same amount of banks conducting bitcoin transactions since the announcement.

[merv77]

You people are morons, this is what we in the financial industry call a "massive disaster." If I can't move my bitcoins to banks in China, I lose reputability, and the cascade of negative effects will put me out of business. This is the end of the bitcoin experiment as far as I'm concerned.  Time to start a firesale of my 2000 BTC, I'll be lucky if I get 100$ per.

BTC seems to be on the way up again. 
anyway this volatile behavior is normal and healthy for innovation so young.
See video below. Some probably have seen it, but for the ones that haven't it's good great info. 

Bitcoin 101 Blackboard - Why Bitcoin's Growth is Normal & The S-Curves You Could Never See http://youtu.be/qHUPPYzzZrI

Cheers,
merv77