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Author Topic: Why Coin Price lost value during this weekend - a $20 billion price correction  (Read 720 times)
xxcsu
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September 04, 2017, 11:51:11 AM
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The total value of the 866 digital currencies tracked by CoinMarketCap.com declined from close to $180 billion on Saturday to $160 billion on Monday morning

Things could get worse, with China on Monday announcing a ban "initial coin offerings", the digital coin issuing craze that has helped fuel the market's rapid rise in 2017.

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There was a $20 billion cryptocurrency price correction over the weekend

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Vann
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September 04, 2017, 12:04:34 PM
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They went up to a combined record high, then went back down. Sounds familiar.
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September 04, 2017, 12:38:12 PM
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The total value of the 866 digital currencies tracked by CoinMarketCap.com declined from close to $180 billion on Saturday to $160 billion on Monday morning

Things could get worse, with China on Monday announcing a ban "initial coin offerings", the digital coin issuing craze that has helped fuel the market's rapid rise in 2017.

Original article here:
There was a $20 billion cryptocurrency price correction over the weekend


When crypto becomes tbtf watch out!!  Read an article the other day. Tech companies starting crypto Coins to fuel stock prices.  I mean what could possibly go wrong there! Roll Eyes

Remember never invest more than you can afford to lose. I'm seeing too many red flags as of late. Best of luck to all in this realm.

As in nature, all is ebb and tide, all is wave motion, so it seems that in all branches of industry, alternating currents - electric wave motion - will have the sway. ~Nikola Tesla~
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September 04, 2017, 12:55:55 PM
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https://www.bloomberg.com/news/articles/2017-09-04/china-central-bank-says-initial-coin-offerings-are-illegal
xXLimbXx
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September 04, 2017, 01:24:01 PM
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Yeah looks like its because of the "China ban". However price started to drop even before this info was made public. Insider info imho.

rdluffy
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September 04, 2017, 01:54:42 PM
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Man, it's normal
People are taking profits, the coins are red, after that, same people will buy again at low prices, and again, again and again

xxcsu
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September 04, 2017, 05:27:09 PM
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That's not normal when China's central bank, the People's Bank of China, announced an extension of its crackdown on ICOs — initial coin offerings — on Monday morning  Angry

China on Monday banned individuals and organizations from raising funds through initial coin offerings (ICO), or launches of digital currencies, saying the practice constituted illegal fundraising.

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Vann
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September 04, 2017, 05:33:56 PM
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That's not normal when China's central bank, the People's Bank of China, announced an extension of its crackdown on ICOs — initial coin offerings — on Monday morning  Angry

China on Monday banned individuals and organizations from raising funds through initial coin offerings (ICO), or launches of digital currencies, saying the practice constituted illegal fundraising.


Good for them. The less people that get scammed with ICO's, the better off Crypto will be. When anyone that produces nothing more than a whitepaper with a dream and a wallet can get 100M, it's not going to end well for those investing.
puwaha
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September 04, 2017, 05:40:09 PM
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Who cares about ICOs?
universalresonance
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September 04, 2017, 05:59:08 PM
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If I'm to understand it correctly- is the bright side of this -that -weak hands will be wiped away from mining and that in turn could bring difficulty down? then perhaps new ones come in and then prices go to the mean?
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September 04, 2017, 08:03:48 PM
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That's not normal when China's central bank, the People's Bank of China, announced an extension of its crackdown on ICOs — initial coin offerings — on Monday morning  Angry

China on Monday banned individuals and organizations from raising funds through initial coin offerings (ICO), or launches of digital currencies, saying the practice constituted illegal fundraising.


 And they're also insisting on folks that did so prior to that ruling return the funds they raised - guess China doesn't believe that Ex Post Facto laws are a bad thing.


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