bitcoin after decision China !!

[amirheavy666]

what's happen for bitcoin price after the decision china bank ?


"""The People's Bank of China published an announcement this morning that it will carry out site inspections on January 17 to check whether enterprises dealing in bitcoin have the correct licenses, have implemented anti-money laundering systems and whether there is market manipulation."""""

[alyssa85]

Some exchanges have responded. See the following:



It is very hard to work out exactly what is going on.

[Xester]

what's happen for bitcoin price after the decision china bank ?


"""The People's Bank of China published an announcement this morning that it will carry out site inspections on January 17 to check whether enterprises dealing in bitcoin have the correct licenses, have implemented anti-money laundering systems and whether there is market manipulation."""""

It is simple bitcoin price will go down. The Chinese will dump their bitcoins and they are already doing it right now. Bitcoins price is dropping tremendously fast and I still havent convert my bitcoins since it is still not confirmed. I dont know what will happen to the price of bitcoin tomorrow. But I do not fear this price meltdown since it is a good opportunity to buy bitcoin at a lower price.

[Jet Cash]

On the face of it, it sounds like good news. Even if Bitcoin isn't regulated, it's still a good idea to regulate the exchanges imho.

Are the Chinese dumping Bitcoin? I thought the drop was just a market correction following the new year rush into alternative capital investments. Aren't there tax advantages associated with investment purchases at the start of the year in China.

[alyssa85]

Are the Chinese dumping Bitcoin?

The price moved from $900 yesterday to $800 today on the news that the exchanges were being inspected.

The problem with bitcoin at the moment is that it is centralised in China, that's where all the mining happens and that's where the bulk of the trading speculation happens (though they don't actually use bitcoin as a currency in chinese online shops). That means that the Chinese govt now has power over the coin. And that in turn means that western investors are holding back "Do you want to put your money in a currency controlled by China?".

Either bitcoin diversifies globally again, or an alt will take it's place.

[n0ne]

Price manipulation might take place, but this won't make a big impact among the users, though China holds the maximum number of user profiles. One thing importantly is that Peoples bank of china which contributes with 45000 branches around the country could establish the digital money if sites were found without proper establishment. Recently Yuan experienced a rise for few days, now for few more days it might happen due to manipulation.

[machinek20]

This is going bad, i think there will be a lot of dumping from chinese user, it is such a pity, chinese new year is coming soon and i expected there will be huge transaction from china and it is going to pump the price, but with this incident, i dont know what would happened with bitcoin

[talkbitcoin]

what's happen for bitcoin price after the decision china bank ?


"""The People's Bank of China published an announcement this morning that it will carry out site inspections on January 17 to check whether enterprises dealing in bitcoin have the correct licenses, have implemented anti-money laundering systems and whether there is market manipulation."""""

this has nothing to do with bitcoin or its price, it is regulation and it should have happened a long time ago, it is just bad timing. and it has been happening in the US and now it is happening in China and will continue in other countries.

whenever you do a business in any country and handle lots of money you have to be regulated and have license that is not a new thing and not a bitcoin thing either.

the fact that bitcoin price is going down is because there are many whales who take this opportunity to make a lot of money from weak hands.

[BillyBobZorton]

what's happen for bitcoin price after the decision china bank ?


"""The People's Bank of China published an announcement this morning that it will carry out site inspections on January 17 to check whether enterprises dealing in bitcoin have the correct licenses, have implemented anti-money laundering systems and whether there is market manipulation."""""

this has nothing to do with bitcoin or its price, it is regulation and it should have happened a long time ago, it is just bad timing. and it has been happening in the US and now it is happening in China and will continue in other countries.

whenever you do a business in any country and handle lots of money you have to be regulated and have license that is not a new thing and not a bitcoin thing either.

the fact that bitcoin price is going down is because there are many whales who take this opportunity to make a lot of money from weak hands.

I guess it's a good time to buy, what else can happen at this point? more exchanges getting hacked? I doubt it will happen, statistically it was too recent and it happens like once a year, we just started the year and last big hack was the bitfinex hack, so after this chinese crap is over the bottom is found and its time to buy again.

[Juggy777]

The exchanges will obviously give that statement to make sure that's there not a mad rush of withdrawals. But they are provided time of almost one week I do hope they sort their mess and come out clean. It's uncertain times for btc and it's price, we can only pray it gets sorted.

[chickenado]

what's happen for bitcoin price after the decision china bank ?


"""The People's Bank of China published an announcement this morning that it will carry out site inspections on January 17 to check whether enterprises dealing in bitcoin have the correct licenses, have implemented anti-money laundering systems and whether there is market manipulation."""""

The price of bitcoin will dump so this is a good news in bitcoinworld many traders want it so that they can earn many bitcoin at low price. But if this reason continue to many countries i think many businessman that using bitcoin will regulated and need license to continue their business. So we dont know what will happen if this dumping will dump too much or this dump is only creating of whales to gain profit.

[Rachelin]

what's happen for bitcoin price after the decision china bank ?


"""The People's Bank of China published an announcement this morning that it will carry out site inspections on January 17 to check whether enterprises dealing in bitcoin have the correct licenses, have implemented anti-money laundering systems and whether there is market manipulation."""""

Yes, this fact has effected to bitcoin market at once and the price is falling deeply after china decision. I think the deeply decrease is temporary and it will hit over 1,000$ in this year.

[BitcoinBarrel]

LOL @ people dumping.

NOTHING about Bitcoin has changed.

Just because the government of China fears Bitcoin's power (and sheep follow suit), doesn't mean you should stop believing.

QUIT worrying about the Fiat value of your Bitcoins. Worry about the amount of Bitcoins you have.

[mobnepal]

Few Chinese traders and newbie traders are selling right now being panic about this investigation but many are still buying so that price is struggling hard to again pump over $900. I am still holding my bitcoins tightly rather than being panic, price will get above $1k again, stay calm guys..

[terrate]

what's happen for bitcoin price after the decision china bank ?


"""The People's Bank of China published an announcement this morning that it will carry out site inspections on January 17 to check whether enterprises dealing in bitcoin have the correct licenses, have implemented anti-money laundering systems and whether there is market manipulation."""""

The price of bitcoin will dump so this is a good news in bitcoinworld many traders want it so that they can earn many bitcoin at low price. But if this reason continue to many countries i think many businessman that using bitcoin will regulated and need license to continue their business. So we dont know what will happen if this dumping will dump too much or this dump is only creating of whales to gain profit.

no. i think not. system of china banking a bit different with other country.
bitcoin can easily use for laundering .

[SyGambler]

nothing to worry about , regulating the exchanges may not be liked by many people but I'm sure that there is nothing to worry about
some people for sure are selling , even if I was a day trader I would had shorted bitcoin today after the news cause it's expected but everything should be fine in the next month or so

it's just disappointed when it comes to timing  cause we were expecting a good run with the price  

[FaucetRank.com]

This is going bad, i think there will be a lot of dumping from chinese user, it is such a pity, chinese new year is coming soon and i expected there will be huge transaction from china and it is going to pump the price, but with this incident, i dont know what would happened with bitcoin

It is Btc and anything can happen with Btc as it is unpredictable. Btw I was also thinking the same i thought price will remain between $900 to $1000 but I forgot any day anything may happen and btc price may crash. 

[Digitalbitcoin]

Actually china controls bitcoin as they have biggest share of bitcoins whatever mined till date. If Chinese continuously sell their own BTC to market for capital then price of bitcoin can be dumped so hard.

But I think Bitcoin is not just currency, it more than that. We can say it as commodity. And once any user sell there asset then then can get it back.

So my honest suggestion to Chinese ti empower bitcoin by increasing its value to world.

[terrate]

This is going bad, i think there will be a lot of dumping from chinese user, it is such a pity, chinese new year is coming soon and i expected there will be huge transaction from china and it is going to pump the price, but with this incident, i dont know what would happened with bitcoin

It is Btc and anything can happen with Btc as it is unpredictable. Btw I was also thinking the same i thought price will remain between $900 to $1000 but I forgot any day anything may happen and btc price may crash. 

yes that's why u can see bitcoin trading . if the price no volatility , then broker cant earn anything on that even 95%++ trader keep bitcoin in buy position. But we can know that any china action can more easily affect btc price, not US, not Russia, just china.

[Skarner21]

This is just a normal movement of the price and i think china are not selling many people are just panic sell about the news their heard but i think better to be relax because the movement of the price is just like the same in the past movement last year..
And i think they don't let the price going to be low again because miners could not profitable anymore if it will happen..