[2015-11-19] Bitcoin Price Drops Following News of EU Threat

[Carlton Banks]

One amusing aspect to this is just how powerless the EU/ECB are to prevent the existence of a EUR/BTC exchange rate. Their friends in the US have a New York run exchange called ItBit that has a BTC/EUR trading pair, and I think at least one of the Hong Kong exchanges has the same. Between those, Locabitcoins.com and Bitsquare (when the beta eventually gets going), the EU has no chance. 

[AndySt]

Will there be a Christmas rally this year? The market is yearning for good news. I don't think this week will be outstanding. Although maybe Black Friday will help to lift

[Bit_Happy]

Just before these clamping down articles the EU classified bitcoin as a legitimate currency so I can't see them clamping down on bitcoin any harder than they already do with fiat currency which lets be honest is the main issue in this regard.

Reminds me of the "China Ban" scare which was so hard to get rid of. Now China is a huge leader in Bitcoin activity.

[OrientA]

Just before these clamping down articles the EU classified bitcoin as a legitimate currency so I can't see them clamping down on bitcoin any harder than they already do with fiat currency which lets be honest is the main issue in this regard.

Reminds me of the "China Ban" scare which was so hard to get rid of. Now China is a huge leader in Bitcoin activity.

There was never a ban of bitcoin in China. That is only a ban to the banks so that they are not involved in bitcoin trading/transaction.
Now, you can transfer money directly into a bitcoin exchange. So that ban is also lifted.
There is not much innovation going on in China apart from bitcoin trading.

[BitmoreCoin]

The price has ready come back from the drop. There is no way for EU to ban bitcoin and other currencies. Regulating bitcoin is good for its further adoption as a currency.