Why the sudden fall to $700s after stable $900s?

[alyssa85]

It's China.

Here is some more news:



Don't know if it is enough to stabalise things.

This is why you should never do pumps boys and girls - it's too eye-catching and you attract the attention of people in power. We'd have been better off with a slow move up, rather than a 30% increase in a month.

[shadowninjax]

It's China.

Here is some more news:

https://pbs.twimg.com/media/C144Te5UcAADppu.jpg:large

Don't know if it is enough to stabalise things.

This is why you should never do pumps boys and girls - it's too eye-catching and you attract the attention of people in power. We'd have been better off with a slow move up, rather than a 30% increase in a month.

Oh jeez. Looks like majority of Chinese are dumping it now after the news.

[Miz4r]

Scared Chinese people are pulling their money out of OKC and Huobi in fear of government investigation into the exchanges and exposing fraudulent behavior. The price on OKC and Huobi is now more than $50 below the western exchanges while before it was the other way around. If you believe the Chinese government will not do much except make the exchanges promise them to be good and take a bribe or two then now could be a good time to buy and make some money.

[shadowninjax]

Scared Chinese people are pulling their money out of OKC and Huobi in fear of government investigation into the exchanges and exposing fraudulent behavior. The price on OKC and Huobi is now more than $50 below the western exchanges while before it was the other way around. If you believe the Chinese government will not do much except make the exchanges promise them to be good and take a bribe or two then now could be a good time to buy and make some money.

Well, what if it gets banned in China after the investigations? What will be the implications then? Will we recover?

[Miz4r]

Scared Chinese people are pulling their money out of OKC and Huobi in fear of government investigation into the exchanges and exposing fraudulent behavior. The price on OKC and Huobi is now more than $50 below the western exchanges while before it was the other way around. If you believe the Chinese government will not do much except make the exchanges promise them to be good and take a bribe or two then now could be a good time to buy and make some money.

Well, what if it gets banned in China after the investigations? What will be the implications then? Will we recover?

Yes this is the kind of fear that's making the market drop right now. You feel it don't you? Want to sell your coins right now?

[Sundark]

I don't get it. So until now chinese exchanges weren't collecting any info about theirs users? They were anonymous?
Every western exchange I know is collecting ID, personal info when users is buying/selling more than $XXX amount.

[BitHodler]

Bitstamp is working fine right now, so that's definitely not the reason the price is going down significantly.

I think it has more to do with the Chinese government trying to tighten down own exchanges as they allow people to move wealth from one country to another.

And as you know, China can't stand that. I wonder what the outcome will be. It seems that traders don't want to wait and thus start dumping massively. It's time for sub $800 prices.

Looks like Huobi is falling to 760s. Has bitcoin been regulated or worse, banned in China? I don't seem to find any news regarding that, except few weeks ago that they wanted to regulate it.

It's just the Chinese government trying to put up certain laws to make it more difficult for people to take their wealth and move it to another country.

Basically, it's nothing major that is justifying this level of price decrease. It's purely the panic from gamblers as they are pulling back their borrowed money out of fear.

Smart people that have sold their coins above $1000 will now look at the price with great joy. Buying back at least $200 lower is a nice first step. Maybe the price will even sink further.

[weilichesbin]

I think with this news we hit the 500 dollar again

[pereira4]

Its just usual that bitcoin will fall from 910$ to 840$ since it is volatile. Right now, it's price on preev is 872$ and no one can predict bitcoin's price a month from now it might rise more or dump but in my opinion it will dump. That's just a wild guess though let's just wait and see what's the future price of bitcoin this will be a good month for bitcoin and it will have a very volatile price thats what im certain of.

Dude it did not fall to 840$, it just hit 787$ only because some news of chinese exchanges about to be investigated. This is price manipulation by whales, or people panic selling because they are fucking pussies and will panic sell at the smallest FUD news. It's ridiculous.

[Skarner21]

Scared Chinese people are pulling their money out of OKC and Huobi in fear of government investigation into the exchanges and exposing fraudulent behavior. The price on OKC and Huobi is now more than $50 below the western exchanges while before it was the other way around. If you believe the Chinese government will not do much except make the exchanges promise them to be good and take a bribe or two then now could be a good time to buy and make some money.

Well, what if it gets banned in China after the investigations? What will be the implications then? Will we recover?

Yes this is the kind of fear that's making the market drop right now. You feel it don't you? Want to sell your coins right now?

Its not a good idea to sell bitcoins right now the price of bitcoin right now is decrease and i think we are in 700 level back again. but i think the price can rise again back. i hope that it will not decrease more soon..
Bitstamp someone are still pushing the price up.. and i think if chinese are selling their bitcoin i hope there is other people are buying  more bitcoin just to pushing up the price of bitcoin those chinese they are planning to centralize and they are attracting other to panic sell so if you sell you will just lose..
Go bitstamp traders go push back to $800 value above..

[weilichesbin]

The Problem is 1/3 of BTC Volume is from Chinese.
If we lost this support Bitcoin will Bounce in 200 to 300 Dollar Range

[talkbitcoin]

the reason is only one word: PANIC

there is nothing going on. the news you keep hearing is an exaggerated versions of what is happening like bitstamp being inaccessible or China banning bitcoin,...

people these days are so fast on clicking sell than they are on using their brains/

[1Referee]

It's once again no coincidence that the price has gone down after it went through a fantastic roller coaster. It's just a game that is being played, where you'll find a few very wealthy elite traders plus the exchange operators that end up with millions in profit time on time again. Stop feeding these whales. As long as this continues, these people will see that it works, and thus will repeat it over and over and over. Common sense is a very important factor beside market knowledge. People should cash out at prices over $1000 instead of buying. It would allow you to buy back at these prices...

[Arcteryx]

The Problem is 1/3 of BTC Volume is from Chinese.
If we lost this support Bitcoin will Bounce in 200 to 300 Dollar Range

This is a sad reality for bitcoin: The one that holds the most volume governs how it rises and how much it falls. They can make it fall if the one pulling the strings decides to make a rule that will force all the ones that hold bitcoin and there are alot of microcosm in china to either fold or sell them. So it is literally in those individuals hands of what happens to the price. Whether it rises on any given day or if falls like it is now.
Just how far it will fall is the question that is on everybodys minds.

[lolikop]

BTC 500$ here we come

[Gliassa]

Its indeed china they are always pump and dumping it every time, its really annoying if I have to be honest.

[alyssa85]

Its indeed china they are always pump and dumping it every time, its really annoying if I have to be honest.

It's the gamblers mentality.

Just think, if the coin was moving up in a slow controlled way, the chinese govt wouldn't have noticed because they have other things on their plate. It's the big sudden moves where it goes parabolic and is clearly a pump, and all the newspapers write excited articles about it, that then provokes them to start investigating.

[harizen]

I just don't understand. It was almost like in an instant.

Was there some pretty bad news?

The volatility is very unpredictable right now.

Is this a downtrend or will it be back up?

Thanks

The price volatility is unpredictable since the beginning of bitcoin operation. Also bitcoin price doesn't established a stable price at $900. It just stays around that range but only for a few days only if you will summarize the weekly or monthly chart view.

If this is a downtrend or will it be back again to price increase doesn't have an accurate answer. Just take out those extras arrows and began targeting and purchasing those bitcoin at cheap rates to considered if you believe that price will back again and passed it's ATH.

No room for too much coffee when there is a sudden price rally whether to increase or decrease.

[FrannWilder]

Yep China is busy again, really hating it, every time there is this pump and dumping and we get stuck soon or later due to that.

[torrentco]

The Problem is 1/3 of BTC Volume is from Chinese.
If we lost this support Bitcoin will Bounce in 200 to 300 Dollar Range

if sth like that happens 300 usd is a very optimistic price to guess imo