Don't fall for the chinese scammers trying to make you panic sell

[manselr]

The chinese are using the PBOC as an excuse to crush the price and short and use all the panic sellers on their advantage.

How do we stop them and fuck them up? easy, don't panic sell when they release more PBOC messages. If they see that they can't manipulate the price with those PBOC messages,, they will try to stop shorting and they will start longing pushing the price up.

[1714012080]

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[1714012080]

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[CyberKuro]

The chinese are using the PBOC as an excuse to crush the price and short and use all the panic sellers on their advantage.

How do we stop them and fuck them up? easy, don't panic sell when they release more PBOC messages. If they see that they can't manipulate the price with those PBOC messages,, they will try to stop shorting and they will start longing pushing the price up.

I'm not easy to be panic and take the bait even if the price down to $500.
It's easier to buy then and hold for a better future, but they who have huge amount of bitcoin apparently could manipulate the market by sell big amount to get profits, imagine if you have BTC5000 and sold it at $1200, when the price fall to $700, buy back again.
What a nice strategy, right. If there's no one following to sell, they would loss. But how much of us willing to support bitcoin price to stay at the top.

[nizamcc]

Getting panic doesn't have to do anything with this, as even collectively group of guys having low number of coins selling can't make the difference, but this gets hotter when those big boys come up and try to shake up the markets through their big sell orders being eaten up, which they want. What we need to do is, stay away from the games being played every now and then to show people the power these guys have, if we will not show any interest, they will not take more actions because it will be of no use to them.

[manselr]

Getting panic doesn't have to do anything with this, as even collectively group of guys having low number of coins selling can't make the difference, but this gets hotter when those big boys come up and try to shake up the markets through their big sell orders being eaten up, which they want. What we need to do is, stay away from the games being played every now and then to show people the power these guys have, if we will not show any interest, they will not take more actions because it will be of no use to them.

The big players still need the big mass of ordinary people to follow their lead otherwise the shakedowns would be very small. If you take the % of panic sellers out of the last crash, we would have not went under 1000$ for a long time and we would have certainly not touched 7xx territory again. They depend on people's fear.

[Hazir]

I have no idea why Chinese traders are reacting allergically, it is not that Chinese government can confiscate or ban bitcoin itself. All they can do is ban official Chinese bitcoin exchanges.
If that happen I am sure that will be have off shore exchanges popping out. There is nothing that can really break bitcoin network down.

[jaberwock]

Instead of panic selling, short. When PBOC releases some BS statement, you sell and buy for a lower price. Just be conservative when you sell, so you won't end up buying at higher price.

In the long run(months-years) the price always recovers in the worst case, and usually increases

[JohnUser]

The chinese are using the PBOC as an excuse to crush the price and short and use all the panic sellers on their advantage.

How do we stop them and fuck them up? easy, don't panic sell when they release more PBOC messages. If they see that they can't manipulate the price with those PBOC messages,, they will try to stop shorting and they will start longing pushing the price up.

PBoC, bank of 1.5 billion people really don't care about btc... I just want to say it. Of course some guys have to win, as always in that corrupt world where coin is GOD.

[amacar2]

The chinese are using the PBOC as an excuse to crush the price and short and use all the panic sellers on their advantage.

Don't you think there is connection between PBOC officials and chinese exchange platform owners?
They have said that investigation will run for next 7 days and even more and in meantime price is pumping slowly now i think we will see another fud from them saying PBOC find money laundering activity involved to panic traders and dump the price to buy back again.

[BitcoinBarrel]

I don't understand why people would panic sell if they were scared of audits... it doesn't really make sense to me.

If you were a scammer or money launderer... who already traded Fiat for BTC; then why would you place another transaction selling BTC for Fiat which would need to be accounted for and paid taxes on?

Even if I was an honest trader, and I knew the government was about to audit the exchange I was on; I would not place another transaction right before an audit. I would just withdraw my BTC, and especially Buy BTC with all the Cash Balance that I have in my account.

Why would I sell BTC and try to submit a withdrawal to my bank in Fiat from an exchange under investigation?

Makes NO sense. If anything, the price should have Gone UP at the news of Government audit.

[Bitcoinsummoner]

This is just like trolls in the facebook why donald trump wins the campaign and be president..
That is why the price is decreasing when the price is high because of fake information or news that we do not really know if its true or not..
Well i just following the movement if people are panic sell i am sure that i can make a good profit so before the price could reach below $1k i sell my bitcoin and wait for more price decrease and buy bitcoins again..

[cellard]

I don't understand why people would panic sell if they were scared of audits... it doesn't really make sense to me.

If you were a scammer or money launderer... who already traded Fiat for BTC; then why would you place another transaction selling BTC for Fiat which would need to be accounted for and paid taxes on?

Even if I was an honest trader, and I knew the government was about to audit the exchange I was on; I would not place another transaction right before an audit. I would just withdraw my BTC, and especially Buy BTC with all the Cash Balance that I have in my account.

Why would I sell BTC and try to submit a withdrawal to my bank in Fiat from an exchange under investigation?

Makes NO sense. If anything, the price should have Gone UP at the news of Government audit.

There doesn't need to be actual sense, it's just the psychological impact of an official statement by a government, specifically if the country is the one that has the biggest amount of hashrate in the game... so whatever they say, it will have an impact. Also you got to be delusional if you don't think there is a lot of fraud in the chinese exchanges, the good news is, now its all cleared so all the growth is real growth.

[zby]

You are just like them - just talking your book.

When a panic comes it is best to sell and rebuy lower. "Who panics first panics best" as they say Of course the hard thing is to decide if what comes is a real panic - or just a hiccup.

[digaran]

This is the nature, no one can change it, more than 65% of all bitcoins being mined in china by several big and a few medium mining farms, so they actually should be scared and dump for fiat because they live there, you don't really think all of them working together in an elaborate manipulation scheme do you? on the contrary the governments specially in last 2 months been spooked by daily bitcoin market volume and are reacting to keep the money flow under control and traceable, as you know people are free to do whatever they want with their money as long as it's legal and taxes paid but when we're talking about 9 figures amounts of cash moving around it's like an alert to them that's why they try to corner crypto traders to watch them up close.

[alyssa85]

I have no idea why Chinese traders are reacting allergically, it is not that Chinese government can confiscate or ban bitcoin itself. All they can do is ban official Chinese bitcoin exchanges.
If that happen I am sure that will be have off shore exchanges popping out. There is nothing that can really break bitcoin network down.

It is because they are gamblers. Most of the hodlers are in the west, and western speculators take profits from time to time but don't really panic sell and take big losses on rumours. But Chinese speculators do - I think it is cultural and those manipulating them know this.

[davis196]

The chinese are using the PBOC as an excuse to crush the price and short and use all the panic sellers on their advantage.

How do we stop them and fuck them up? easy, don't panic sell when they release more PBOC messages. If they see that they can't manipulate the price with those PBOC messages,, they will try to stop shorting and they will start longing pushing the price up.

A few days ago when the btc price was $761, i sold around 0.0235 bitcoins on localbitcoins.
I sold them drvien by panic.My mistake.I can`t blame the chinese or PBOC.
Anyway,from now on, i will hold the bitcoins i get for more than a few months.

[yonton]

China and pboc actually like Bitcoin because Bitcoin mining company's exchange there coins for cash bringing in tons of money to there economy. All there operating costs are paid for in cash yuan. China wants Bitcoin to grow more than any other country by far!

[pooya87]

they will always try to take advantage of other people's naivete to make more money, news like these are just a tool they use, if this is over another news will come up. and this is not the first time and it is not just about Chinese, every whale is doing it.
just try to take advantage of this situation and buy cheaper coins and don't let whales get all the cheap coins.

[Amph]

in order for chinese to mnaipulate the price, they need to be a whale first, do we know about any whales that hold at least 100k coins to manipulate the market? i don't remember any

so this mean that chinese can only manipulate randomly based on the fact that they are many and if many of the buy and then panic sell they might cause a huge crash

therefore who is making this panic selling must be someone else that take advatage of the chinese weak hands...

[JariKriting]

bitcoin price this now stable price
in range 880 - 900 dollar/bitcoin , not crash and not big down price
so all people nothing panic,

[ged00u]

Totally agree. I will never sell my Bitcoin no matter how low the prices are. I never feel panic when I see the prices drop. However, I find that there are not many people are the same as me. Most of them sell their Bitcoin whenever they see the prices lower than they expect. That causes a lot of damage to the Bitcoin prices and the market. Poor those people.