FAKE CHINESE NEWS, DO NOT SELL FROM FEAR, HODL TO THE MOON

[Carlsen]

My problem is I bought at $4.6k and was waiting for the price to break even again after the chinese announced the initial regulation, which was fair enough. Was just about to get there and then this happened so now I'm seriously considering just selling out and buying back in lower while risking a $500 loss but it's so damn difficult to decide.

Don't sell your coins unless you need that money so urgently and you don't have any other options. Because functions in cryptocurrency industry are common because no one is regulating it so it is mostly by big whales. Hold on to it tightly you will surely get a chance to sell your coins at higher than 4.6K.  If you sell then you making the loss.

That would be exactly the reaction FUD creators are counting on. People selling their coins because  of the news.
Personally I do not want to do them that favor and give them cheap coins on my costs.
I'm holding, and I hope most others will do so too!

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[Agamemnus]

I think there is no way China would outright ban Bitcoins. Due to their low electricity rates they are a world leader in mining... you think they will just throw it away? I don't think so!

[fetishboang]

I think there is no way China would outright ban Bitcoins. Due to their low electricity rates they are a world leader in mining... you think they will just throw it away? I don't think so!

They can if the government really want to heck they even inflate their currency without bases. If those miners wont bribe those corrupt officials there is chance it will happen, the government of china are crazy if you talk bad about the government you will be imprison.

[Baofeng]

Chinese are known for creating fud just after a good bull trend on whole crypto market and most of the time they also got success like today.
Crypto market is full of panic sellers and the one who is quite wise will just keep on making profit from every dip in price.

Yeah. And if you look at it, there timing it when the price of bitcoin is going strong which lead me to speculate that someone benefits from this FUD, specially the whalers from China. And not only one but twice in a week they created this FUD putting the price of bitcoin at their mercy. However, we have seen this and we will not be affected by it. Bitcoin has the full trust on may investors including a country. So the logically choice for most of us is to hodl and not panic at this trying times.

[BingoDog]

Selling just because of panic or fear are always the worst things to do. Don't bother what Chinese have done this is not sustainable anyway, just stick to your plans with bitcoin and if you have decided to hold then do so. Somehow it seems to me that all this China story was created with some nasty purpose.

[nightwishx]

even though the news is true. I still will not sell my bitcoin whatever happens. all the news and all the dumps that happened lately I think it's just an issue to drop the "temporary" bitcoin price. I'm sure bitcoin can get through it all and again show a remarkable development.

[TheGodson]

Why are you guys calling this fake news? If China wants to get rid of exchanges I don't see what is stopping them or how this is fake news to drive down the price. I mean, I guess it makes sense to do that. I don't think it is unrealistic for China to shut down their exchanges.

I could see China building their own government website where that is the only place where Bitcoin trading is allowed. Other exchanges would cease to exist due to excessive lawsuits against them.

[Pursuer]

history repeats itself... over and over again. and each time people seem to have Alzheimer's disease and forget the last time it happened. my grandmother has a better memory than that!

Chinese talk about eliminating illegal activities that criminals are doing and the news oversees says China is banning bitcoin. that is really absurd and it is getting see through now because of over-usage. and yet it seems to be effective.
which raises the question that maybe people like it this way. maybe they are all aware of how fake this is but they intentionally spread it and dump it to make more profit.

[nakata90]

News of the Bitcoin is always a sensitive issue for investors and traders.When news disadvantage BTC launched sure people will panic, and believe that it's true. Domino effect started happening with BTC, it is an opportunity for traders and investors buy Atlcoin more profit from buying cheap Atlcoin.

[talkbitcoin]

Why are you guys calling this fake news? If China wants to get rid of exchanges I don't see what is stopping them or how this is fake news to drive down the price. I mean, I guess it makes sense to do that. I don't think it is unrealistic for China to shut down their exchanges.

because the news says "China is going to ban all cryptocurrencies including bitcoin". which is a big ass lie.
the reality of the news like always is to regulate it and set certain rules of these unregulated and illegal exchanges to make them legal and also prevent things like money laundering which is pretty common among them.

a couple of months ago there was the same news saying China regulating exchanges but it was interpreted as China banning bitcoin!!!

in the end it is all a game to toy with the price and buy cheap coins and make profit which was otherwise impossible to make!

[MiddleFingerToTheMan]

The fact that China is constantly spreading this FUD is really bullish news in my opinion. Would you spread FUD about something that you think is just going to die off? No.
They want to keep the price down & load up on it as much as possible while it's still below 10k